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Korea Herald
13 hours ago
- Business
- Korea Herald
Korea lays out lifelong support plan for science, tech talent
In a bid to bolster its science and technology capabilities, South Korea's new administration approved a major policy revision to provide lifelong, full-cycle support for students and professionals in science, technology, engineering and mathematics, or so-called STEM fields. The enforcement decree of the Special Act on supporting science and engineering fields was amended and passed during a Cabinet meeting on Thursday, the presidential office said. The revised decree aims to lay a legal foundation for government-led support for STEM talent, from primary school students to senior researchers. "The revision is a fast-tracked fulfillment of the government's promise to nurture science and technology talent and will significantly contribute to building a national growth system centered on science and technology," said Ha Jung-woo, senior presidential secretary for AI and Future Planning on Thursday. The amended decree includes key initiatives, such as focusing on early engagement with programs and content designed to spark interest in science and mathematics among elementary and middle school students, so that they are encouraged to pursue higher education in STEM. Integrated degree programs and customized education in partnership with industry and research institutes are included to support university students and graduates Ha, former head of Naver's AI innovation, emphasized the urgency of enhancing Korea's competitiveness in artificial intelligence. 'The next three to five years may prove to be a golden window in the AI era. I've joined with the determination to contribute all I can to strengthen Korea's AI capabilities with the experience and capabilities I have gained over time,' he said. He highlighted the importance of building a comprehensive value chain across infrastructure, data centers and semiconductors, and stressed the need to create a virtuous cycle in which startups can develop innovative services and grow globally. The revised decree also includes provisions to attract international STEM talent. 'The revision strengthens strategies to recruit global experts and incentivizes their return or long-term stay in Korea,' Ha noted. Asked about the recent trend of students gravitating toward medical school over science and engineering — largely due to salary prospects — Ha acknowledged that the issue cannot be solved through compensation increases alone. 'This is directly tied to corporate labor costs,' he said. 'We're seeking solutions from a long-term, multi-agency perspective involving the ministries of education, welfare, and science and ICT.'
Korea Herald
24-02-2025
- Business
- Korea Herald
Support for SMEs, semiconductors
Proposed Bill: Partial Amendment to the Act on Sale of Building Units Proposed by Rep. Eom Tae-young (People Power Party) ● This amendment alleviates the consent rate required to change the use of partially constructed hotels and accommodation facilities from the current 100 percent to 80 percent. It also grants unit purchasers who do not agree to the change of use the right to request contract termination. Proposed by Rep. Kim Woni (Democratic Party of Korea) ● This bill grants small and medium-sized enterprise cooperatives the right to request consultations on trade conditions when entering into transaction contracts with non-SME business operators, aiming to prevent unfair trade practices by large companies against SMEs. Pending Bill: Special Act on Strengthening Competitiveness and Promoting Innovative Growth in the Semiconductor Industry Proposed by Rep. Lee Chul-gyu (People Power Party) ● This bill enhances semiconductor industry competitiveness by enabling swift infrastructure support and exempting research and development workers in the semiconductor industry from the 52-hour weekly work limit with mutual agreement. Promulgated Bill: Act on the Allocation and Trading of Greenhouse-gas Emission Permits Competent Authority: Ministry of Environment ● This bill expands the range of emission permit traders, currently limited to business entities eligible for allocation, market makers, and emission trading brokers, to include banks, insurance companies, investment traders, and collective investment entities. Competent Authority: Ministry of Land, Infrastructure and Transport ● This amendment allows the disclosure of construction company names where fatal accidents have occurred at their construction sites, aiming to enhance construction companies' responsibility for safety management. — The Korea Herald republishes a weekly legislative report by local law firm DR & AJU LLC to provide the latest information on bills approved, proposed, pending and set to be promulgated. -- Ed.
