[신년사] Yunmo Sung, Minister of Trade, Industry and Energy-::: Global Green Growth Media

[이투뉴스/신년사] A new morning has dawned on the new year of 2021.

Today, I would like to express my New Year’s greetings to all of you who are sweating at the industrial sites and at the forefront of export. Last year was a difficult year to describe without Corona. Our real economy was also shocked, but companies and governments have come together to overcome many difficulties. As a result, it is expected to become the country with the most economic advancement among OECD countries last year.

Above all, it is the result of our industry’s potential. Based on a strong manufacturing base, K-Defense minimizes production disruptions at industrial sites, while achieving significant achievements such as the world’s largest memory semiconductor market share, surpassing 100,000 electric vehicle exports, and achieving $10 billion in bio exports.

The government also did its best. We restored the supply chain of the manufacturing industry, which had been cut off by the corona, and promoted bold support, such as finance, taxation, finance, and public procurement, for various industries and small and medium-sized companies suffering from sluggish exports and domestic demand. In order to recover exports, which are the main pillars of the Korean economy, we have provided trade financing of more than 300 trillion won, while also preparing a turning point for domestic demand through the Korea Sale Festa.

In response to Japan’s export regulations and the reorganization of the global value chain, it is also a great achievement to stably manage the supply and demand of core materials, parts and equipment and increase domestic production. Based on the efforts so far, exports are also showing a recovery trend. As exports of high value-added items such as electric vehicles and OLEDs increase, and the export proportion of small and medium-sized companies increases, the export structure is also improving qualitatively.

In addition, by participating in the Regional Comprehensive Economic Partnership Agreement (RCEP), the world’s largest free trade agreement (FTA), we have prepared an opportunity to pioneer new markets such as the New Southern. This year, the Korean economy is expected to recover from the economic slump caused by the coronavirus.
However, it is also true that there is uncertainty in terms of the speed and extent of recovery due to various internal and external factors.

In the process of economic recovery, we must prepare for the risk of widening the gap between industries, regions, and between large and medium-sized companies. In addition, we must respond to the reaction to globalization, the spread of protectionism, and the possibility of fragmentation of the global supply chain. The Corona era has also been an opportunity for us to discover new opportunities. As social contacts decline, the market for non-face-to-face and digital technologies and products is growing significantly.

In the future, the success of digital transformation is expected to be the key to determining the long-term survival of a company. As interest in climate change and the environment grows, countries around the world are declaring carbon neutrality, and companies are also recognizing’sustainability management’, such as environment, society, governance (ESG), as a source of new competitiveness. The Ministry of Industry will do its best as the department in charge of the real economy so that the Korean economy can recover rapidly this year.

First of all, we will work with companies to completely overcome the corona crisis and restore vitality in the industrial field.

Above all, we will definitely turn exports into positives. We will support export companies by solving field difficulties such as sufficient supply of trade finance, expansion of digital trade, and stagnation of export logistics. In addition, various policy support required by companies, such as financial supply and regulatory improvement, is provided through constant communication and communication with companies.
We will work with the relevant ministries so that it can be done quickly.

We will smoothly promote the government’s pick-up investment so that companies can make new investments. In particular, in the process of promoting the Korean version of the New Deal, we will drive private investment through rapid execution of tangible flagship projects such as large-scale solar and wind power projects, smart green industrial complexes, and future vehicle infrastructure.

We will also boldly promote regional industrial policies to restore vitality of the local economy. We will expand the win-win regional jobs based on the Big 3 new industries and rebuild regional industries by fostering representative industries by region and province.

Second, we will promote the upgrade of our flagship industries by combining digital and eco-friendliness, while fostering new industries to innovate the industrial structure and increase competitiveness. First of all, we will use digital technology as a source of innovation in the manufacturing industry.

We will build the foundation for improving productivity and work environment for data, networks, and artificial intelligence (AI) for each major industry, and we will create new services that people can feel through the widespread distribution of robots that utilize digital elements. .

We will also start making bold preparations for carbon neutrality. We will carefully develop technology development and investment strategies with the public and private sectors under a long-term perspective while fully discussing and communicating with companies. Big 3 new industries such as future cars, system semiconductors, and biotechnology will strive to be a year in which concrete results are made one by one based on the efforts so far.

We will closely support the smooth progress of major investment projects and accelerate the establishment of related infrastructure and system improvement. We will continue to strengthen competitiveness in materials, parts, and equipment to create a material, parts, and equipment powerhouse that no other country can surpass.

We aim to become a global material, parts, and equipment industry by stabilizing supply and demand for key items and supporting our companies to enter the global supply chain. Third, we will promote innovation and strengthen competitiveness in the energy industry. We will continue to maintain energy conversion, such as reducing coal power generation and expanding renewable energy.

In line with the expansion of renewable energy, we will significantly reinforce the power grid and operation system and reorganize the power market. We will make the new and renewable energy industry our future food by developing next-generation technologies such as high-efficiency solar power and ultra-large wind power and establishing a value chain for the entire process of hydrogen economy from production and distribution to utilization of hydrogen. Energy conversion will not only change the energy mix, but also become the electricity that creates new industries and jobs.

Finally, we will spread solidarity and cooperation. The Corona era showed that it is not easy to overcome the current crisis and secure future competitiveness only by living alone. Solidarity and cooperation between companies are essential for innovation in the overall industrial ecosystem. The government will support solidarity and cooperation activities to develop the overall capabilities of the industry and prepare for the future, such as preparing for the future car transformation of the automobile industry and fabless-foundry cooperation in the system semiconductor field, thereby laying the groundwork for a new leap forward.

We will also strategically promote solidarity and cooperation at the global level. In connection with the inauguration of the new US government, we will actively participate in discussions on the restoration of the multilateral system, and consider joining the Comprehensive and Progressive Pacific Rim Economic Partnership Agreement (CPTPP) from the perspective of national interests.

In the process of forming a new trade order, such as digital commerce and environmental norms, we will take the lead in reflecting our position in solidarity with major countries.

There is a word called Unoechangcheon (雲外蒼天). It means there is a blue sky outside the clouds. If you keep working hard and move forward, the clouds will eventually clear up. The challenge of corona we have experienced so far will be a new opportunity if we change our mind to a reverse idea.

In the new year, I look forward to seeing our real economy break through thick clouds and fly into the blue sky.

I wish you a happy new year. Thank you.

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