On the 14th, Chinese media Global Times published an article written by Dazhigang (Dá Zhìgāng), a researcher at the Northeast Asian Institute of Heilongjiang Academy of Social Sciences, titled 'Can South Korea's seven major seeds bear fruit?'

According to the article, South Korean President Lee Jae-myung presided over the 'Future Growth Engine, Seven Major Seeds Plan Reporting Session' on the 12th, and officially designated Small Modular Reactors (SMR), nuclear fusion, renewable energy, quantum, aerospace, advanced bio, and advanced materials and components as core national strategic assets. The aim is to build new pillars of economic growth following the semiconductor industry.

The article cited intensifying competition over supply chains and significant demographic changes occurring in many countries, stating, 'Under these circumstances, South Korea's launch of the Seven Major Seeds Plan is not merely an adjustment of industrial policy, but an important strategic choice to address the structural bottlenecks of its own economy and seek breakthroughs for medium to long-term development.' It continued, 'In South Korea, multiple potential risks are compelling the consideration of new growth engines,' and pointed out that the South Korean economy has long suffered from a prominent structural weakness: 'high dependence on a single industry, semiconductors.'

According to the article, South Korea, a central producer of memory chips, has always had its trade, industrial sentiment, and macroeconomic growth rates deeply linked to the semiconductor industry cycle. The South Korean economy also fluctuates in line with this cycle, and its capacity to respond to risks is said to be insufficient.

The article mentioned the increasing electricity demand accompanying the rapid expansion of AI (artificial intelligence) computing demand and the intensification of maneuvering over supply chains for critical materials and components, and pointed out that 'these fluctuations are continuously impacting South Korea's industrial security.' At the same time, it argued, 'South Korea is facing a declining birthrate and an aging population, with a shrinking workforce. Domestic consumption is also sluggish. The growth potential for traditional manufacturing is gradually diminishing, and the previous growth model, which relied on economies of scale and demographic dividends, is becoming less effective.' It expressed the view that 'cultivating new growth drivers and taking over the growth engine is an urgent task.'

While the article acknowledged that South Korea has a relatively good foundation for actually advancing related projects, it stated, 'Making a plan and making it a reality are different things,' and pointed out that there are numerous challenges in implementing the Seven Major Seeds Plan. It listed 'the inherent uncertainty of cutting-edge technology itself,' 'constraints in terms of funding and human resources,' and 'the pros and cons of the chaebol-led model.'

Regarding the first point, 'the inherent uncertainty of cutting-edge technology,' it argued that 'nuclear fusion, general-purpose quantum computing, and commercial SMRs are all fields with long cycles and high risks.' Regarding the second point, 'funding and human resources,' it stated, 'Deploying seven fields simultaneously requires continuous and enormous research funding. Policy execution capabilities will be tested, for example, in how to allocate R&D resources amidst fiscal pressure. The shortage of highly skilled research personnel in a declining population will also constrain the plan's implementation in the long term.' Furthermore, regarding the third point, 'the chaebol-led model,' it pointed out that 'while chaebols possess abundant capital and high industrialization capabilities, problems are also likely to arise, such as an excessive concentration of resources in large corporations, narrowing the room for small and medium-sized enterprises responsible for innovation to grow.'

The article stated that 'many of the seven major seeds are future industries looking 10 years ahead, and it is difficult for them to rapidly contribute to GDP and export growth like semiconductors in the short term. This is not about "immediate harvest," but about "sowing the seeds of innovation,"' and also argued that 'South Korea's plan offers insights to other countries around the world.' (Translated and edited by Noya)