Supported KRW 30 trillion for 5 years in the eco-friendly and digital new deal… Announcement of’K-New Deal Globalization Strategy’ by related ministries
Input: 2021.01.13 17:34
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The Ministry of Science and ICT and the Ministry of Trade, Industry and Energy announced the joint’K-New Deal Globalization Strategy’ at the 26th Emergency Economy Central Countermeasure Headquarters Meeting and 9th Korean New Deal Ministers’ Meeting held on the 13th.
The K-New Deal globalization strategy is to preemptively respond to the growth of related markets and the increase in demand for cooperation due to the spread of the global green-digital economy after the coronavirus. It was designed to establish a virtuous cycle of spreading the achievements of expansion.
Considering marketability, competitiveness, and cooperation demand, this green/digital new deal is △green energy, △green mobility, △water industry, △DNA convergence industry △intelligent government, △smart SOC, △non-face-to-face industry, and seven major industries. It was derived by reclassifying into fields.
The main contents of the K-New Deal globalization strategy are to focus on finding promising projects according to the characteristics of the four strategic markets, such as advanced maturity, emerging growth, distributed power, and energy diversification in the Green New Deal field, and intensively support exports and orders. I did it.
To this end, it is planning to install a joint public-private Green New Deal TF within the Overseas Order Support Council (sponsored by the Ministry of Finance), discover promising projects, and provide support for project exports and orders such as financing, ODA, and consulting in a package. In addition, it plans to install the’Green New Deal Order Support Center’ in KOTRA’s trade centers in three countries, including the US, Vietnam, and Chile, and provide individual support from local organizations.
We will also strengthen financial support for exports and orders for the Green New Deal. The government plans to supply export/order loans worth 30 trillion won over the next five years, expand the loan limit (up to 10%p), and provide preferential treatment such as additional interest rate benefits (middle △ 0.3, small and medium △ 0.5%p).
In addition, prior to receiving orders, the company plans to provide mid- to long-term financial guarantee limits to overseas clients on the premise of participation in Korean companies, and expand production facility expansion, working capital, and export guarantee and insurance support for cashing export bonds.
In particular, it plans to reinforce export guarantee and insurance support for small and medium-sized companies with low creditworthiness through special examinations based on technologies and order contracts.
In addition, for small and medium-sized companies with low creditworthiness, it plans to revitalize the overseas business joint guarantee system by reducing the business feasibility evaluation fee by 50%.
Also included in this project is to strengthen the basis for entry into the developing markets in the green new deal by expanding the proportion of ODA for the Green New Deal among ODAs with high participation of small and medium-sized companies from 6.4% to the OECD average level (22.7%).
In the field of digital new deal, the DNA convergence industry plans to use domestic empirical results in major fields such as 5G and artificial intelligence for each strategy step as a reference when expanding overseas, and support it to discover business models with global versatility.
To this end, the government has decided to actively promote advanced overseas expansion that includes digital and other companies through the’K-Digital Alliance’, which will be launched in the first quarter of this year. In addition, by expanding the digital government cooperation centers from currently 3 to 7 to strengthen cooperation between governments, it will promote the expansion of the digital government system overseas.
The government also decided to expand international joint research on core technologies such as 5G and cyber security with the United States and EU to strengthen capabilities in new technology fields and strengthen global cooperation.
In order to lead the standard for emerging digital technologies, major international standards organizations (International Telecommunication Union, JTC1) strengthen the activities of domestic experts, while promoting standard development and verification through open source, using collective intelligence. It plans to promote quality improvement and expand support for countermeasures in the field of fact standards through public-private cooperation.
In addition, it plans to expand the domestic infrastructure to support internationally recognized certification for 5G devices (3.5㎓/28㎓ bands), and to reduce the corporate burden and strengthen participation in the global ecosystem by expanding the electromagnetic compatibility evaluation mutual recognition agreement (MRA).
They also rolled up their arms to secure the initiative in the new digital economic order. Based on the results of the Digital New Deal, the government has decided to promote a strategic digital ODA that reflects the cooperation demands of the recipient countries such as distance education, remote work, health and medical care, and artificial intelligence, data, etc. based on domestic discussions such as artificial intelligence ethics standards and legal roadmap. It decided to preemptively respond to the emerging digital policy agenda.
Lastly, investments in overseas companies in the digital field will also be expanded (total of 226 billion won) using a global venture fund and a digital media content fund.
The government established a fund dedicated to discovering and fostering digital export companies (30 billion won), and decided to provide preferential loans by selecting companies that have entered digital New Deal overseas as’national representatives of innovative companies’.
In addition, fund guarantees (up to 10 billion won per company) will be provided to high-growth digital companies, and mid- to long-term low-interest purchase funds will be provided to overseas importers of domestic 5G equipment.
In addition, it supports continuous overseas expansion activities by digital conversion of major overseas expansion platforms such as the regular operation of the online exhibition hall (ICT Cyber World) of ICT solution exporters, and the overseas expansion TF was installed in the’Digital New Deal Public-Private Cooperation Meeting’, a major strategy. The plan is to establish an all-round support system by utilizing the country’s overseas diplomatic missions and overseas bases as a’digital new deal advance base’.