Yoon confident about Korea hosting World Expo 2030

President Yoon Suk-yeol speaks during a press conference marking the first 100 days of his presidency at the presidential office in Yongsan District, Seoul, Wednesday. Yonhap

President pledges to expand support for chip, space, bio industries

By Park Jae-hyuk

President Yoon Suk-yeol showed his confidence about Korea hosting World Expo 2030 Wednesday, saying that the country can excel in its capability and infrastructure.

"I'm confident that we have much greater competitiveness in capability and infrastructure than Saudi Arabia," the president said during a press conference held to mark his first 100 days in office.

"During bilateral meetings at the NATO summit, I emphasized to my counterparts that Korea has the best infrastructure to advertise their products to the whole world," he said. "Because of the event's significant economic effect, we cannot drop out of the race."

He also emphasized that his administration will establish footholds for the semiconductor, space and biotech industries by nurturing talented scientists and engineers.

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"In order to maintain the 'super gap' in semiconductor technologies, the government previously announced strategies for Korea to become a superpower in the chip industry," he said. "By increasing quotas on university and graduate school students majoring in semiconductor (related fields) and strengthening cooperation with the private sector, the government will nurture 150,000 semiconductor experts."

President Yoon Suk-yeol, center, and U.S. President Joe Biden, left, tour a Samsung Electronics semiconductor factory in Pyeongtaek, Gyeonggi Province, under the escort of Samsung Electronics Vice Chairman Lee Jae-yong in this May 20 file photo. Yonhap

Mentioning the successful launch of Korea's first locally-developed Nuri space rocket, Yoon also pledged to support the aerospace industry through the establishment of a space agency emulating the U.S. National Aeronautics and Space Administration (NASA).

He said that the city of Daejeon, which accommodates the Korea Aerospace Research Institute, will be in charge of space research and training experts, while South Jeolla Province, which is home to the Naro Space Center, will focus on the rocket industry. South Gyeongsang Province, where numerous aerospace companies are based, will focus on the satellite industry.

The president described the biotech industry as the "future growth engine" of Korea during the press conference.

"In order to foster the biotech industry, the government established reform plans to attract 13 trillion won ($10 billion) in investments from businesses by 2026," he said. "Just as the government simplified procedures to review innovative medical devices, we will ease regulations that have blocked the growth of companies."

In addition, the president underscored that his administration restored the nation's nuclear energy industry by abolishing the previous Moon Jae-in government's anti-nuclear policy. Yoon viewed his predecessor's anti-nuclear policy as being unilateral and ideologically-motivated.

"As a result of my aggressive sales diplomacy during the NATO summit after declaring the abolishment of the anti-nuclear policy, some countries began to ask Korean firms to build their nuclear power plants," he said.

Yoon also mentioned settlements of strikes by unionized cargo truck drivers and irregular workers at Daewoo Shipbuilding & Marine Engineering as his administration's achievements over the past 100 days.

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