Jung Sye-kyun: "Early Execution of 2.1 Trillion Won Budget for SoBuJang... Will Boldly Pursue Regulatory Innovation"

"Although the time was short, initial achievements in SoBuJang were made... As Prime Minister, I will swiftly advance related policies"

[Image source=Yonhap News]

[Asia Economy Reporter Wondara] Prime Minister Chung Sye-kyun stated, "We will expedite the early execution of the special budget of 2.1 trillion won for materials, parts, and equipment." He also emphasized, "We will boldly pursue regulatory innovation to resolve difficulties faced by materials, parts, and equipment (SoBuJang) companies."

On the morning of the 30th, Prime Minister Chung attended the 11th meeting of the Special Committee for the Development of Materials, Parts, Equipment, and Workforce held at the National Assembly, saying, "As I am attending the special committee not as the chairman but as the Prime Minister, I feel a heavier sense of responsibility," and added, "I will personally oversee the areas I have been interested in and spoken about while serving as the chairman of the special committee." Before assuming the office of Prime Minister, Chung had served as the chairman of the Democratic Party’s SoBuJang Workforce Special Committee.

Regarding the government’s response to the Japanese export restrictions, Prime Minister Chung evaluated, "Although the time has been too short to expect significant changes, we have seen initial results in the self-reliance of the materials, parts, and equipment industry."

He continued, "To fully strengthen the competitiveness of SoBuJang, which has been a long-standing challenge for our industry, policy stability is crucial," and said, "We will expedite the early execution of the 2.1 trillion won SoBuJang budget allocated this year and push forward related policies with a sense of urgency." He also emphasized, "We will carefully examine the realities faced by companies to resolve their difficulties," and "We will boldly pursue regulatory innovation to ensure that regulations do not hinder corporate growth."

Lee Hae-chan, leader of the Democratic Party, said, "When Japan’s economic regulations began last July, there was considerable tension," and added, "Thanks to the government’s good response, the dangerous turning point seems to have passed." He further stated, "Last year, we barely achieved a 2.0% economic growth rate, and since this year’s circumstances are challenging, the party and government will respond well together."

Democratic Party lawmaker Yoo Young-min, who will succeed Prime Minister Chung as chairman of the special committee, said, "It has been seven months since Japan unilaterally started the regulations," and added, "So far, I think we have overcome the situation without major shocks in the short term." He continued, "Self-reliance in SoBuJang has become essential, and since we have to travel a difficult and long road, there is concern that tension and public interest may wane," and said, "From now on, we will focus on increasing visible achievements and sharing them with the public."

Minister of Trade, Industry and Energy Sung Yun-mo said, "The government will continue to vigorously promote SoBuJang policies and achieve visible results. We will execute 70% of this year’s SoBuJang budget in the first half of the year." Minister of Science and ICT Choi Ki-young also stated, "We will focus more than 5 trillion won on research and development (R&D) over the next three years," and "We will provide solid support for the stabilization of core items."

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