"Strengthening SoBuJang Competitiveness, Completing Legal and Institutional Foundations"…Draft Enforcement Decree Amendment Published for Legislation Notice

[Asia Economy Reporter Kim Bo-kyung] The Ministry of Trade, Industry and Energy will publicly announce the draft amendment to the enforcement decree of the Special Act on Materials, Parts, and Equipment (SoBuJang) from the 23rd, detailing the provisions of the SoBuJang Special Act passed by the National Assembly in December last year.

Looking at the main contents of the enforcement decree amendment, first, with the legal revision including the equipment sector in addition to materials and parts as a policy target, the materials, parts, and equipment industries have been integrated and defined.

It also includes detailed procedures for establishing the basic plan and implementation plan to strengthen SoBuJang competitiveness.

The decree also stipulates contents and procedures for newly established measures under the legal revision, such as strengthening supply chain stability and fostering corporate groups, including the selection of core strategic technologies and the selection of the top 100 specialized leading companies and strong small and medium enterprises.

In addition, it regulates ▲ the discovery and support of cooperation models between demand and supply companies ▲ the application and review procedures for regulatory improvements requested by participating companies ▲ institutions and procedures related to technology development, technology transfer and commercialization, and testbed opening and utilization ▲ and the composition and operation of the Convergence Innovation Support Group.

It includes regulations on the composition and meeting operations of the Competitiveness Enhancement Committee and the operation of the working-level task force, as well as matters related to the management and operation of the SoBuJang special account and the delegation of accounting affairs.

Lee Won-ju, Director of Materials, Parts, and Equipment Cooperation at the Ministry of Trade, Industry and Energy, said, "This amendment to the enforcement decree of the Special Act holds great significance as it completes the legal and institutional foundation to implement the strengthening of the SoBuJang industry's competitiveness, which has emerged as a national agenda, in the industrial field and to continuously promote it."

He added, "As the enforcement decree of the Special Act will be amended and fully implemented from April 1, the public and private sectors will closely collaborate to ensure that the strengthening of the SoBuJang industry's competitiveness can be systematically and effectively promoted."

The Ministry of Trade, Industry and Energy plans to carefully review and reflect various opinions collected during the public announcement process and proceed through procedures such as regulatory and legislative review, vice ministerial and Cabinet meeting approvals, to ensure full implementation in April.

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