Sung Yun-mo Meets Mid-sized Companies: "Promoting Export and Investment... Focusing Efforts on Developing SoBuJang"

January 15 'Mid-sized Business New Year Meeting' Held
"Mid-sized Businesses Lay Foundation to Strengthen SoBuJang Competitiveness"
"Announced Customized Support Measures"... Urged Investment and Employment Expansion

Sung Yun-mo, Minister of Trade, Industry and Energy / Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Kim Bo-kyung] Sung Yun-mo, Minister of Trade, Industry and Energy, announced that this year he will focus policy efforts on early transition to export growth, revitalization of investment, and fostering materials, parts, and equipment (SoBuJang).

Minister Sung attended the 'Mid-sized Enterprises New Year Meeting' held at the Sheraton Seoul Palace Hotel on the 15th, where he shared opinions on policy directions for economic revitalization and the difficulties and suggestions of mid-sized enterprises.

Minister Sung emphasized, "Mid-sized enterprises are the backbone of the economy, creating quality jobs and driving innovative growth," adding, "Last year, mid-sized enterprises played a significant role in laying the foundation for strengthening SoBuJang competitiveness in response to Japan's export restrictions."

For example, Solbrain, a mid-sized chemical materials company, completed the early expansion of its hydrofluoric acid plant in response to Japanese regulations and secured the capability to mass-produce high-purity hydrofluoric acid.

Minister Sung stated, "This year, we will concentrate policy efforts on early transition to export growth, revitalization of investment, and establishing an unshakable industrial structure through fostering SoBuJang," urging mid-sized enterprises to actively invest and expand employment.

He also announced, "We plan to promptly establish and announce the '2nd Basic Plan for Growth Promotion of Mid-sized Enterprises' to secure momentum for sustainable growth and capabilities to respond to the 4th Industrial Revolution."

He continued, "We will strive to prepare customized growth support policies that mid-sized enterprises can feel through active opinion gathering from the industry," emphasizing his commitment.

Kang Ho-gap, Chairman of the Korea Federation of Mid-sized Enterprises, said, "We will strengthen communication with not only the industry but also the government and the National Assembly to enhance the effectiveness of policies fostering mid-sized enterprises," adding, "Through continuous innovation and efforts to expand investment and employment, we will lead the renaissance of the Korean economy."

This content was produced with the assistance of AI translation services.