South Korea’s Ministry of Economy and Finance said Monday it will establish 110 hydrogen charging stations by the first half of next year, as part of its plan to nurture three target industries -- non-system semiconductor, future mobility and bio-health.

The plan was unveiled at the first steering meeting for “the innovative growth of big 3 industries,” presided over by Deputy Prime Minister and Finance Minister Hong Nam-ki on Monday, to draw up a comprehensive blueprint to help them achieve top competitiveness in the global stage.

“The goal is to lay the foundation for the non-memory semiconductor industry to take a leap to the world’s No. 1, help Korea to become the world’s top electric and hydrogen vehicle manufacturer and to cultivate the bio-health industry as the country’s one of the top five exporting industries,” Hong said, adding that he would concentrate efforts on deregulation, creating ecosystems and bolstering infrastructure.

For the research and development of state-of-the-art chips, the minister pledged to offer tax deductions for investments and create government funds.

Regarding future mobility, the minister said the government will establish 110 hydrogen charging stations by the first half of next year. Up to 12 of them will be set up within this year.

The government also aims to secure some 200 hydrogen station sites via repurposing of idle land owned by public institutions.

The minister further emphasized deregulations for the bio-health industry, saying that the government would allow genetic treatment research for all diseases and provide guidelines for using medical and health care data.

By Kim Byung-wook (kbw@heraldcorp.com)