Martial Arts: "Export Power Through Mutual Growth Is the Right Direction... Building a Foundation for the 4th Industrial Revolution Is Crucial"

[Asia Economy Reporter Hwang Yoon-joo] The Korea International Trade Association (KITA) evaluated President Moon Jae-in's New Year's address on the 7th, stating that emphasizing "the power of coexistence" to strengthen the competitiveness of the domestic materials, parts, and equipment industry and to foster global small and medium-sized enterprises as a strong export nation is a very correct direction.

A KITA official said, "In particular, building the foundation for the 4th Industrial Revolution this year by supporting venture startups, fostering new industry sectors, investing in artificial intelligence (AI) and data fields, and expanding the use of regulatory sandboxes is an important direction our economy must move forward."

He added, "Despite global protectionism and economic downturn last year, we have the resilience to achieve positive results such as three consecutive years of $1 trillion in trade, ranking 7th in the world in exports, expanding exports of new industries, and surpassing 20% for the first time in the proportion of exports to the New Southern Market."

He continued, "This year, we will work closely with the government to inject innovation throughout the trade industry and strive for the co-growth of exports and domestic demand, as well as large and small businesses. We will also endeavor to become the foundation for inclusive growth through high value-added exports and diversification of export markets."

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