The president set a goal to cultivate five companies valued at over 1 trillion won (approximately $1 billion) and 50 firms generating over 100 billion won (about $100 million) in revenue by 2030. This initiative aims to create global innovation companies in South Korea that combine national security with advanced technology, similar to the U.S. firms Palantir and Anduril, and Germany's Hensoldt.
During the 'Future Security Innovation Companies Strategy Meeting' at the Blue House, President Lee emphasized, "The battlefield is expanding infinitely beyond land, sea, and air into space, cyberspace, and artificial intelligence. Advanced technologies in semiconductors, drones, robotics, and satellite networks are now key to national security success."
He acknowledged the structural limitations of the existing K-defense industry, stating, "South Korea's defense industry has transformed from a country that could not even produce a single rifle to a major player in the global arms market. However, K-defense is still heavily focused on large corporations and hardware weapon systems, with a slow and rigid procurement structure."
The president noted that there have been structural barriers preventing private innovation companies from entering the defense industry ecosystem. He asserted that fostering new security innovation companies at a national level is crucial for South Korea to evolve from a traditional defense power to a global leader in new security.
The government plans to introduce an 'innovation-promoting contract system' to quickly procure technologies and products from innovative companies in non-defense sectors like aerospace. In the defense sector, a new 'advanced technology acquisition system' will be established to enable the initial deployment of advanced weapon systems within a year.
President Lee mentioned the model of In-Q-Tel, the CIA's venture capital arm, stating, "We will expand the government's strategic investments in the new security industry through the establishment of a Korean version of In-Q-Tel."
Regarding talent development, the government will support young innovators' entry into new security innovation companies by designating universities focused on new security startups and forming a government-wide task force to promote special legislation.
He expressed optimism, saying, "The new security market is expected to provide new opportunities for South Korea's innovative startups. We will spare no effort to support our innovative companies to stand tall in the new security market, like Palantir and Anduril."
President Lee concluded by stating, "South Korea has a notably high military density compared to other countries. As security dynamics change significantly, we must shift towards innovation technology companies and advanced weaponry."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.