President Lee pushes to foster new security innovation companies that can compete with Palantir
We are fostering new security innovation companies and nurturing AI, drones, cybersecurity, and aerospace. Check out the vision for institutional reforms and the goal of five companies worth 1 trillion won by 2030 now.
President Lee Jaemyung said on the 26th at the “Strategic Meeting on Fostering Future New Security Innovation Companies” held at the Blue House that he would nurture innovative companies based on cuttingedge technologies such as artificial intelligence, drones, cybersecurity, and aerospace.
President Lee also presented a goal of fostering five companies with a corporate value of more than 1 trillion won and 50 companies with annual sales of more than 100 billion won in the new security sector by 2030. He said that Korea must also create companies at a level that can compete with Palantir, the U.S. data analytics company.
He also said he would push for the establishment of a Korean version of InQTel, modeled after the U.S. CIA's InQTel, and expand the government's strategic investments. In addition, he explained that he would review improvements to related contracting and procurement systems so that innovative companies' technologies can be adopted more quickly.