BUSINESS

Hwang renews commitment to fostering growth engines, new industries

By a2017001
  • Published : Apr 21, 2017 - 16:27
  • Updated : Apr 21, 2017 - 16:27

Acting President and Prime Minister Hwang Kyo-ahn on Friday reiterated the government's commitment to fostering growth engines and new industries to stay ahead in intensifying global competition.

Hwang made the remarks during a ceremony to mark the Day of Science on Friday, and the Day of Information and Communications on Saturday, respectively.

Acting President and Prime Minister Hwang Kyo-ahn speaks during a ceremony marking the locally observed Days of Science, and Information and Communications in Seoul on April 21, 2017. (Yonhap)

"(Our country) will strive to create new industries and services by securing future growth engines such as smart cars and the Internet of Things," Hwang said.

The acting president stressed the government's ongoing policy efforts to reduce onerous business regulations, while pledging to better support industry researchers and cultivate creative human resources in science.

To better cope with the fourth industrial revolution marked by the convergence of cutting-edge technologies, Seoul has been pushing for nine "national strategic projects" which include technologies involving virtual reality, autonomous vehicles, smart cities, biotechnology and ultra-light materials.

Later in the day, Hwang invited venture firm heads to his official residence and called for their efforts to develop new technologies and contribute to creating jobs.

Hwang took over as acting president in December after former President Park Geun-hye was impeached by parliament over a corruption scandal. His interim leadership is set to end after the May 9 presidential election. (Yonhap)