Anchor: Finance Minister and Deputy Prime Minister Yoo Il-ho has vowed to start a government support program for firms developing products related to the Internet of Things, big data, cloud services and artificial intelligence. After revealing the so-called "Four-plus-One" plan during a meeting with reporters earlier this week, Yoo visited KBS Wednesday to elaborate on his industrial blueprint.
Our Kim Bum-soo reports.

Report: Ahead of his first 100 days in office on Thursday, Seoul's Deputy Prime Minister and Finance Minister Yoo Il-ho announced his plans for an industrial reform.
 
Appearing on a KBS news program Wednesday night, Yoo explained the so called "Four-plus-One" reform plan aimed at realigning the nation's industrial structure with Internet of Things(IoT) and other growth engines at the forefront. 
 
[Sound bite: Deputy Prime Minister/Finance Minister Yoo Il-ho (Korean)]
"As you know, the four structural reforms cover the public, labor, education and financial sectors. The measure must be carried out as it is. And we are implementing it. But in terms of finding out future growth engines, manufacturing is important but it appears that we will hit the limit with only manufacturing. So we must choose and focus on the Internet of Things(IoT) and others." 

The government is planning on providing reinforcement measures like tax support and subsidies, among other plans, to bolster companies specializing in IoT, big data, cloud services and artificial intelligence(AI).
 
Meanwhile, the deputy prime minister also revealed plans to restructure struggling shipbuilding and shipping companies. 

The government will hold a pan-governmental committee meeting as early as next week to discuss various topics including mergers and acquisitions among the nation's top three shipbuilders.

[Sound bite: Deputy Prime Minister/Finance Minister Yoo Il-ho (Korean)]
 “Restructuring is, in a sense, part of the bigger structural reform. As you said I have declared restructuring and our principles have been set, and it should be swiftly carried out to reduce burdens on the economy later. Burdening the employment sector is unavoidable in this process. We will have employment measures facilitating job transfers.”
 
He added that the government can also consider financial assistance to minimize possible side effects.
 
Looking back at his 100 days in office, the finance minister said that the South Korean economy tumbled with low home demand and facility investments amid the global downturn. He added, however, it is too early to form an extra budget to stimulate the economy.
Kim Bum-soo, KBS World Radio News.