MOF and KIMST Aim to Identify and Support Emerging Deep Tech Companies... Promote Deep Tech Transition in the Marine and Fisheries Sector

 

- 2025 Competition to select the 2025 Marine and Fisheries Deep Tech R&D Projects.

 

 The Ministry of Oceans and Fisheries (MOF; Minister Kang Do-hyung) and the Korea Institute of Marine Science and Technology Promotion (KIMST; President Jeon Jae-woo) have recently announced that they are soliciting new R&&D projects to support the transition to deep tech in the marine and fisheries sector as well as among global deep tech companies.*

 

 * Deep tech company: A company that creates social and economic added value by solving difficult problems in the marine and fisheries sector based on advanced science and technology (AI, big data, bio, robots, drones, energy, etc.).

 

 As deep tech technology has brought radical changes to the industrial structure as well as numerous innovations in recent times, countries around the world are expanding their investment aimed at fostering deep tech companies. The MOF has launched the new “Ocean and Fisheries Deep Tech Technology R&D” program as part of a drive to solve current challenges in the marine and fisheries sector* by utilizing deep tech technologies while fostering Ocean Star Companies.**

 

 * ❶ Solving marine environmental problems, ❷ responding to climate change, ❸ ensuring seafood safety, ❹ securing ocean energy, ❺ reducing marine accidents, ❻ promoting the balanced development of fishing villages, and ❼ promoting digital transformation.

 

 ** “Ocean Star Company” refers to a marine and fisheries unicorn company (unlisted excellent company) that meets certain requirements among companies with high growth potential, such as those expected to achieve annual sales of KRW 100 billion based on their technological excellence.

 

 The MOF plans to invest KRW 30.25 billion in deep tech R&D in the period 2025-2028.

 

 This year, the ministry will support two main initiatives: i) development of technologies aimed at solving the challenges currently facing the oceans and fisheries sector, including the application and convergence of deep tech technologies; and ii) technology development to assist promising domestic deep tech companies in the oceans and fisheries sector in entering overseas markets and to help companies already operating overseas to boost their market share.

 

 “The fostering of promising deep tech companies will help us to find sustainable solutions to pressing issues in the marine and fisheries sector, such as climate change, and to expand the foundation of new marine and fisheries industries,” Minister Kang Do-hyung said.