Forum Overview

Korea Institute of S&T Evaluation and Planning (KISTEP), led by President Tae-Seog Oh, and Korea Technology Innovation Society (KOTIS), led by President Byung-Sang Hwang, jointly hosted the Science, Technology & Innovation: Grand Transformation Forum for Sustainable Growth and Future Industries on Thursday, May 29, 2025, at 2:00 p.m. in Orche Hall (5th floor, L Tower) in Seocho District, Seoul. Designed to tackle major economic and social challenges—such as industrial revitalization and demographic shifts—the forum sought to chart a new paradigm in science and technology innovation policy. More than 200 policymakers, industry leaders, academics and researchers attended.

△ Tae-Seog Oh, President of KISTEP, delivering the keynote address

Keynote Address

President Tae-Seog Oh of KISTEP delivered a keynote address titled “A Major Policy Shift in Science, Technology & Innovation for Future Growth.” He underscored the need to transform the R&I policy framework for an integrated approach to Research (R) and Innovation (I), proposing:

• Redesigning the R&D system to drive innovation

• Expanding the government’s role as a venture capitalist

• Strengthening support systems for scaling up R&D outcomes

• Enhancing support mechanisms to bolster private-sector innovation capabilities

He also stressed the necessity of a mid- to long-term strategic roadmap to improve policy consistency and predictability, highlighting:

• Establishing a strategic investment framework

• Advancing performance management with an innovation- and market-oriented focus

• Revamping the evaluation system to be mission-oriented

Presentations

Byung-Heon Lee (Professor, KwangWoon University)

“Transforming the Innovation Investment System in Response to Industrial and Technological Change”

• Introduced a package-style R&D model linking private investment

• Advocated diversified R&D support—combining funding and financing—tailored to a company’s growth stage and size

Yong-Gwan Lee (CEO, BluePoint Partners)

“Fostering Deep-Tech Startups and Scale-Ups for Greater Impact”

• Highlighted the keys to successful deep-tech entrepreneurship and product–market fit: collaboration with market and management experts and boosting operational efficiency through innovative technologies

Woo-Seok Jang (Senior Research Fellow, Hyundai Research Institute)

“Policy Directions to Spur Private-Sector Innovation Activities”

• Emphasized user-centered policy design

• Proposed creating a “Deputy Prime Minister for Science and Technology” as an overarching control tower

• Recommended enhancing tax and fiscal incentives

• Expanding public-demand–driven innovation procurement

• Creating regulatory innovation and demonstration environments

• Integrating policy feedback loops for innovation outcomes

Panel Discussion

Moderated by Professor Jeong-Dong Lee (Seoul National University), the roundtable featured:

• Min-Sang Yoo, Chief Strategy Officer (CSO), Autonomous A2Z

• Byung-Gun Kim, Director, Strategic Procurement Research Division, Korea Institute of Procurement

• Eun-Mi Jung, Senior Research Fellow, Korea Institute for Industrial Economics & Trade

• Hyun-Hwan Oh, Director General, Office of S&T Policy Planning, KISTEP

They engaged in a deep dive on public-policy instruments and execution frameworks that can catalyze voluntary innovation in the private sector.

△ Group photo of presenters and panelists

Closing Remarks

President Tae-Seog Oh remarked, “This forum marks a crucial step in shifting from R&D-centric policies to integrated R&I approaches that energize private innovation and drive tangible economic and social outcomes. We will work tirelessly to institutionalize these changes.”

Related Article:

https://www.yna.co.kr/view/AKR20250529166000017?input=1195m