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[모두발언]The 4th Extended Trade Strategy Coordination Meeting-2021. 3. 10. COEX-
Nice to meet you. Not long ago, I am very pleased to have a meeting with the new Chairman of the International Trade Association, Ja-Yeol Koo, who was elected.
As a’traditional business man’, we are expected to make a great contribution to laying the foundation for our exports to take a leap forward.
‘Export’ is playing a strong support for the Korean economy. Monthly exports recorded positive growth for 4 consecutive months, and the average daily exports in February reached a record high. It’s all a result of the sweat and dedication of the entrepreneurs here.
These achievements should not be limited to a short-term rebound, but should be used as a springboard for the quantitative and qualitative transformation of our trade structure. We need to make today the golden time for a leap forward.
Looking back, exports have played an important role in overcoming the crisis. Around the past IMF financial crisis, our exports were only 130 billion dollars, but in 2006, we reached 300 billion dollars and after the financial crisis in 2011, we reached 500 billion dollars.
After the changes in exports, our industry has also changed rapidly. Clothing, video equipment, and computers that were once among the top 10 export items have been replaced by mobile phones, displays, and home appliances. Semiconductors, automobiles, and shipbuilding have also steadily played a big role along with internal innovation.
In addition, in export last year, items that have been cultivating stamina for a long time are newly appearing in the export front.
Last year, system semiconductors surpassed $30 billion in exports for the first time, achieving the highest performance ever. Exports of eco-friendly cars have also increased significantly, and bio-health has increased for 11 consecutive years, surpassing 10 billion dollars for the first time in history, entering the top 10 export items. Based on the competitiveness of eco-friendly ships such as LNG propulsion ships, Chosun also achieved the world’s No. 1 in orders for high value-added ships.
Along with these industries, we will invest approximately KRW 5 trillion in 12 major industries, such as rechargeable batteries, cosmetics, and food, with high future growth, to strengthen our competitiveness and support the era of 700 billion dollars in exports in 2025.
We will also strengthen win-win and cooperation between different industries and between large and small and medium-sized companies. In recent years, automotive semiconductors in the global market have become scarce.
There is a reason for the convergence between different industries and the failure to keep up with the pace of change in the global value chain. We will expand policy support for broad solidarity and cooperation so that companies can proactively respond.
In improving our trade structure, we must also respond to the large trend of export industrialization of the service industry.
In the face of digital transformation, consumption of services across borders using online and IT devices is increasing rapidly. Contents such as games and movies, software, and healthcare are growing as export industries.
We will actively take advantage of opportunities that have raised national brands through K-Defense and Hallyu, and foster promising service fields as a new export industry. In the service sector, we will actively promote marketing and continuous deregulation through digital infrastructure. We will improve the chronic service balance deficit by strengthening the global competitiveness of the service industry. In addition, in the era of 700 billion dollars in exports, SMEs will play a greater role.
Last year, venture investment in Korea exceeded the record high of 4.3 trillion won, and the number of start-up companies also reached a record high of 1.49 million. We need to grow the’seeds’ of these innovations into new export forces.
We will create an export innovation fund worth 150 billion won to foster promising export small and medium-sized venture companies. We will eliminate the blind spots of trade finance by allowing associations and economic organizations by industry to make contributions, and we will dramatically expand trade finance by linking with public financial institutions such as the Korea Trade Insurance Corporation. We will alleviate the difficulties in import and export logistics of small and medium-sized export companies through the spread of win-win logistics.
I think that exports are not selling goods, they are selling innovations. You cannot enter the global market without innovation. We believe that this will be achieved through innovation of 700 billion dollars in exports in 2025 and 4 strong exports in the world in 2030. Let’s overcome difficulties with indomitable effort and a positive attitude.
[보도자료]Prime Minister Jeong Sye-gyun presides over the 4th Extended Trade Strategy Coordination Meeting
Prime Minister Chung, “Switch from exports selling goods to exports selling innovations!”
Achieve $700 billion in exports by 2025 through innovation! Leap to the world’s top four in 2030!
◈Relevant ministries jointly announced ｢Strategy to expand future growth engines and trade structure innovation｣
△By 2025, invest about 5 trillion won in next-generation promising strategic items such as biohealth, OLED, and cosmetics △Support trade growth of six K-service-oriented services such as contents, medical and healthcare, and fintech
△Expansion of export platforms for small and medium-sized companies-Creation of an export innovation fund worth 150 billion won, win-win logistics, etc.△ Enhancement of convenience for businessmen through vaccination during short-term overseas visits for important economic activities
◈Listen to the voices on the scene to expand exports through talk concerts with companies and future traders
△ Presentation and sharing of success stories such as non-face-to-face AI skin measurement devices, mobile puzzle games, etc.
△Suggestions for demand-based trade finance and overseas market marketing support, relief of difficulties in import and export logistics, and activation of startup investment
◈ Demonstration of ｢CES 2021 Innovation Award Winning Product｣ proven technology on the world stage
□ On the afternoon of March 10 (Wed), the 4th “Expanded Trade Strategic Coordination Meeting” was held at COEX, Seoul, presided over by Prime Minister Jeong Sye-gyun. (Summary of the meeting: Attachment 1)
ㅇ This meeting is aimed at making these achievements an opportunity for quantitative and qualitative transformation of the trade structure, not just a short-term rebound, with monthly exports recording positive growth for 4 consecutive months since last November.
ㅇ It was held in the form of a’Hope Concert’ where companies, economic organizations, and young future traders all gathered together to share and discuss the future blueprint of exports.
□ The main contents of “Strategies for Expansion of Future Growth Engines and Trade Structure Innovation” announced jointly by relevant ministries are as follows.
？ By ’25, about 5 trillion won was invested, creating an innovative ecosystem for developing promising products and upgrading existing export products, and creating future market demand.
* (Example) Biohealth: Invested KRW 1.6 trillion in the development of innovative new drugs and medical devices, etc.
？ Focusing on six high-potential K-services*, we will supply more than 20 trillion won in trade finance by 25 and expand specialized investments for each promising service.
* 6 K-Services: Contents, Digital Services, Medical·Healthcare, Edutech, Fintech, Engineering
* (Example) Content Adventure Investment Fund (150 billion won in ’21), Fintech Innovation Fund (300 billion won by ’25), etc.
？ To expand the export platform of SMEs and mid-sized companies, support for the creation of an export innovation fund worth 150 billion won, the formation of a joint public-private council for import and export logistics, and expansion of K-Studio*.
* AR/VR product shooting, digital promotional content production, influencer marketing, etc. Support infrastructure (KOTRA)
？ For the convenience of businessmen’s entry and exit, for short-term overseas visitors, prioritization of corona 19 vaccination is provided after review by the competent department and approval by the Korea Centers for Disease Control and Prevention.
□ Export-related organizations, such as export companies, trade associations, small and medium-sized business associations, and mid-sized business associations, export-related organizations such as the Export-Import Bank, KOTRA, Mubo, and Heavy Vacuum, ministries such as the Ministry of Science and Technology, the Ministry of Industry, and youth college students* attended this meeting.
* University students who participated in the regional specialized youth trade expert training program (Ministry of Industry, 20 universities in ’21, 700 students)
-48 college students participated through online video conferencing.
(CES Innovative Product Exhibition) Prime Minister Chung first attended the “CES 2021 Innovation Award Winning Product Exhibition*”, which promotes the products of startups that have won the innovation award at the International Electronics Show (CES 2021), the world’s largest electronic product exhibition.
* (Location) Byeolmadang Library, B1F, COEX Mall, (Period) 3.10.(Wed) ~ 3.12.(Fri) 3 days
ㅇ The exhibited products consist of products* of a total of 9 companies that reflect the recent global consumption demand such as non-face-to-face, eco-friendly, and health (well-being).
* A total of 9 items including V Touch (non-contact long-distance touch panel) (Company/Product Overview: Attachment 2)
ㅇ Prime Minister Chung encouraged the attendees by experiencing the product firsthand, evaluating the bright future of Korean exports as promising startups were recognized for their’innovation’, the core of product competitiveness on the world’s best stage.
(Talk Concert) Participants shared the know-how of companies that created export performance amid the Corona 19 crisis, and discussed in-depth about solving the difficulties that export companies are facing.
ㅇ First of all, in addition to product and service competitiveness, two companies that actively took advantage of new consumption pattern changes such as non-face-to-face economy expansion and home economy, announced successful export cases and strategies.
ㅇ In addition to successful export cases, the export companies that participated in the field were: ?Demand-based trade finance support, ?System semiconductor design personnel and design house support reinforcement? Suggestions were made on market information and marketing support.
？ Regarding the opinion that trade finance reflecting corporate demand is necessary
-The Korea Trade Insurance Corporation plans to establish an optimal trade finance strategy for each sector by forming a TF with major associations and organizations, and expand the scope of contributions to the trade insurance fund limited to governments and banks to private institutions to launch products tailored to demand He explained that he would do system improvement in parallel so that it could be done.
-The Export-Import Bank stated that it is providing support through full defense financial programs such as loans, guarantees, and investments, focusing on the K-New Deal field*, and explained that it has also established a customer-oriented support system, such as the establishment of a dedicated organization for early export companies.
* (Digital New Deal) ① Secondary Battery·ESS, ② Solar·Wind Power, ③ Hydrogen Energy, ④ Future Mobility, (Green New Deal) ⑤5G·Next Generation Semiconductor, ⑥Pharmaceutical·Healthcare, ⑦Digital·Content
？ Regarding system semiconductor design manpower training and policy support requests for design houses* specialized companies
* A company that designs products according to the foundry production process based on designs designed by fabless
-The Ministry of Industry is planning to create a new manpower business this year to nurture 180 people, and to seek ways to expand the scale of training in the future.
-The company announced that it will strengthen support for the role of the system semiconductor design-manufacturing intermediate bridge through the establishment of an online platform for linking the design house and fabless, and expansion of R&D that allows participation of the design house.
？ Regarding the point that it is urgent to solve the problems of import and export logistics such as the recent increase in maritime logistics costs and lack of ships.
-The Ministry of Maritime Affairs and Fisheries plans to put more than 2 temporary ships of nationality ships every month until the import and export logistics are stable, and allocate more than 50% of the shipping space to small and medium-sized shippers. It has announced that it will be urgently launched on European routes in March in advance of a month.
-In addition, it was announced through the Small and Medium Venture Business Corporation that urgent cargoes to be loaded in additional shipping space provided by national shipping companies are being identified.
？ Regarding the opinion that it is necessary to revitalize startup investment in various fields other than specific fields such as IT and bio, and to resolve financial difficulties.
-The Ministry of SMEs and other related ministries explained that they plan to invest in various fields such as green industry, logistics and transportation, maritime, and culture by investing 1.5 trillion won in 2009 to create a venture fund worth about 3 trillion won.
* Smart Korea Fund 1 trillion won, fund by sector 0.8 trillion won, growth stage fund 0.5 trillion won, etc.
-In addition, by lowering the level of guarantee support (notation) of start-ups by one level, continuous support (key measure), and financed by supplying an innovative start-up commercialization fund of 2,250 billion won (’21), which supports technology business feasibility rather than financial indicators. He said he would alleviate the difficulties.
？ Regarding requests for specialized information and marketing support necessary for overseas market development
-KOTRA is sharing market information through private services such as YouTube by greatly expanding* easy and easy-to-view video content this year.
* Overseas market news video production plan (KOTRA, edition): (’19)15 → (’20)19 → (’21)200 → (’25)2,000
-Apart from the existing offline-centered marketing support method, it has announced that it will provide services suitable for the coronavirus situation by expanding the proportion of digital marketing such as video consultation, online exhibition, online platform launch, and post promotion.
ㅇ Meanwhile, college students who attended the field asked Prime Minister Chung and other attendees for advice on the qualities, competency development, and know-how necessary as traders.
-In particular, when asked about the experience of working as a general trading company and how to secure trust with trading partners, Prime Minister Chung said,’It is the spirit of a boss to live fiercely without giving up.’
-In order to be successful as a boss, you must be able to move people’s hearts, and the most important thing is communication.
(Strategy Announcement) The Ministry of Industry announced the “Strategies for Expansion of Future Growth Engines and Trade Structure Innovation” developed jointly with relevant ministries as a mid- to long-term vision for Korean trade to overcome the Corona 19 crisis and open an era of 700 billion dollars in exports. It looks like this:
【Strategy Establishment Background】
ㅇ Global trade is facing new export opportunities and uncertainties due to structural changes such as carbon neutrality, digitalization, and protected trade.
-Accordingly, it is necessary to actively utilize the new growing market demand, such as eco-friendly and non-face-to-face, as an opportunity, and to systematically respond to uncertainties such as prolonged coronavirus and global import regulations.
ㅇ The government prepared this measure to create new growth momentum through preemptive innovation in Korean trade and strengthening industrial competitiveness such as promising industries in the future, and to open an era of 700 billion dollars in exports in ’25.
-In particular, while actively utilizing the qualitative improvement results of our exports recently, such as the advancement of key industries and the growth of new industries using quarantine and non-face-to-face economy.
* (Example) Electric/hydrogen cars: (’19) 77,000 units → (’20) 11.1 million units (57.0%↑) Bio Health: (’19) 9.1 billion dollars → (’20) 14.1 billion dollars (diagnostic kit exports 3 billion dollars)
-We plan to innovate so that trade support infrastructure such as digital trade, finance and logistics can support the growth of promising industries.
【Strategy main contents】
？ We will strengthen our global competitiveness by discovering’promising items for the next generation’.
By investing about 5 trillion won by ’25, we will create an innovative ecosystem to develop promising products and upgrade existing export products, and create future market demand.
* (Example) Biohealth: Invested KRW 1.6 trillion in the development of innovative new drugs and medical devices, etc.
We will reduce corporate burden by improving and rationalizing R&D, environmental regulations and certification systems in a business-friendly manner, and expand investment capacity for promising companies by creating private funds.
* (Example) Food for agricultural and fisheries: Developing the National Food Safety Certification System (’21) and promoting international certification (’22) Eco-friendly cars: Future car conversion facility investments are supported by subsidies for foreign investment and paper investment without factory expansion, and exhaust gas diagnosis Device regulation review, etc.
We will promote strategic overseas marketing so that promising companies can expand new markets and networks.
* (Example) Cosmetics: KOTRA’s overseas cooperative distribution network doubled (122 in ’21), Established “K-beauty experience and public relations hall” for foreign tourists in Korea (September), etc.
？ With systematic support, service trade will be promoted with commodity trade.
Through the revision of the Foreign Trade Act, the target of service trade will be expanded to all industries* and a separate support regulation will be established to globalize promising service companies with a support system at the level of the manufacturing industry.
* (Current) Limited enumeration such as knowledge service (positive method) → (improvement) conversion to negative method
We will supply more than 20 trillion won in trade finance by ’25, centering on six high-potential K-services*, and expand specialized investments for each promising service.
* 6 K-Services: Contents, Digital Services, Medical·Healthcare, Edutech, Fintech, Engineering
* (Example) Content Adventure Investment Fund (150 billion won in ’21), Fintech Innovation Fund (300 billion won by ’25), etc.
We will expand the non-face-to-face marketing platform to the service industry by establishing the “K-Service Integrated Online Exhibition Hall” within this year.
? We will accelerate the transition of our trade to a digital trade system.
In the second half of the year, the “Trade Investment 24”, which recommends optimal trade information and business using AI and big data, is established, and the latest information for each overseas market is provided in more than 200 videos* throughout the year to intelligentize and digitize the information delivery system. I’ll do it.
* Overseas market news video production plan (KOTRA, edition): (’19) 15 → (’20) 19 → (’21) 200 → (’25) 2,000
We will expand the digital infrastructure by expanding the currently established 10 K-Studio* to 20 within this year, and establishing 30 promising themes/company-specific halls on the online B2B export platform.
* AR/VR product shooting, digital promotional content production, influencer marketing, etc. Support infrastructure (KOTRA)
We will expand marketing programs that combine online and offline methods according to the company’s growth stage and industry and market conditions.
By fully reflecting the concept of’digital trade’ in the Foreign Trade Act*, we will establish an institutional basis and establish a customs clearance information network dedicated to e-commerce in stages.
* (Current) E-trade (infrastructure) focus → (改) E-commerce, digital goods/services trade, etc. added
? We will expand growth finance for promising companies by innovating the trade finance structure.
Through the revision of the Trade Insurance Act, we will expand the scope of contributions to the Trade Insurance Fund, which was only available to the government, banks, and other funds, to private associations and organizations, and improve the introduction of products tailored to demand.
This year, we will create an export innovation fund worth 150 billion won, centered on the Korea International Trade Association, to invest in promising companies, and increase corporate support performance by linking trade insurance to the fund investment target companies.
This year, we established an integrated data platform for importer information, which is the core information of foreign transactions, and provided it to export companies, and launched a service that supports up to a portion of the collection cost in addition to the existing collection agency service for SME bonds to actively alleviate the difficulties of SMEs. I will do it.
? We will build a trade system that is resistant to crisis.
In the first half of the year, we will prepare and distribute a’win-win-type standard transaction contract’ in which both shippers, shippers and logistics companies participate, to spread win-win logistics, and to systematically respond to issues of import and export logistics.
For the convenience of businessmen entering and leaving the country, starting in the second quarter, we will provide support* to prioritize corona19 vaccinations for short-term overseas visitors for important economic activities after reviewing the relevant ministries and approved by the Korea Centers for Disease Control and Prevention
* There is a serious or public reason that requires a foreign visit as a short-term overseas visit (3 months) for important economic activities, and the country to which you plan to visit requires a vaccination certificate (inevitable) or to areas with high risk of corona 19 infection and transmission. Corona 19 vaccination procedure for essential purpose departure at the time of visit (epidemiological risk) (Attachment 4) (Disease Administration)
In the event of a crisis in the procurement of key production products, the foreign trade law establishes the basis for smooth supply and demand measures, such as import agency, and the trade adjustment support system was reorganized* during this year to strengthen protection for domestic companies and workers affected by changes in the trade environment. I’ll do it.
* ① (Expand scope of support) FTA damage → normal damage, ② (reinforcement of support content) Employment maintenance, sales channel support, etc. added
(Resolution Ceremony) After the announcement of the strategy, five people* representing the government, companies, and students held a ceremony to mount LED balls with the slogan “To the Era of 700 Billion Dollars Exported Together” containing the future vision of Korean trade.
* 5 people: Prime Minister Jung, President of the Trade Association, 2 businessmen, 1 university student
ㅇ Also, 48 college students listening online joined the ceremony by entering a message of hope to support our trade on mobile and paper.
□ The government plans to implement the ｢Strategy for Expansion of Future Growth Engines and Trade Structure Innovation｣, and continue to resolve difficulties in business sites to overcome the coronavirus crisis in Korea’s trade and achieve future growth.
※ You can check the progress of the 4th “Expanded Trade Strategy Coordination Meeting” held today through YouTube and KTV SNS.
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