A council on promising next-generation technology was launched Friday comprising 23 experts from academia, industry and think tanks.

The council is cochaired by by Samsung Electronics Vice Chairman Yun Jong-yong, Korean Federation of Science and Technology Societies’ Vice President Shin Jae-in and stem cell pioneer Hwang Woo-seok.

At the launching ceremony, Deputy Science and Technology Minister Oh Myung stressed the role of promising technologies in bringing about fundamental changes to industry and the people’s lives.

He said the committee's work on early identification of technical areas should serve as new engines for growth and enhance national competitiveness.

After finalizing the selection of technologies by late July, the council will submit the results to the National Science and Technology Council in August.

National planning of long-term research and development are expected to reflect the results.