S. Korea unveils 7 tech projects for securing future growth engines

On Wednesday, the Korean government unveiled seven technological projects aimed at bolstering the nation's future growth engines, as part of the Strategic Emerging Engines for Disruptive Innovation (SEED) initiative. This announcement was made at a policy briefing at Cheong Wa Dae by the Ministry of Science and ICT, along with the Ministry of Trade, Industry and Resources.

The SEED initiative focuses on three key areas to secure new growth engines for Korea: renewable energy, frontier technologies, and an advanced supply chain ecosystem. In the renewable energy sector, the government has set its sights on commercializing water-cooled small modular reactors (SMRs) by 2035. Construction of non-water-cooled SMRs is expected to commence around 2030.

To oversee the project from the development stage, the government plans to establish a special purpose company (SPC) in collaboration with the private sector, specifically for advanced modular reactors.

Another significant project is the development of a locally designed nuclear fusion reactor by 2035. These endeavors aim to propel Korea into a new era of technological advancement and economic growth, marking a pivotal shift towards innovative growth engines.