Vice Minister of Economy: "Risks of COVID-19 Resurgence and US-China Conflict... Full Effort to Improve Exports"

Korean New Deal, Global Value Chain (GVC) Innovation Strategy, and Thorough Preparation for Post-Corona

[Asia Economy Reporter Jang Sehee] Kim Yongbeom, 1st Vice Minister of the Ministry of Economy and Finance, said on the 12th, "There are various risk factors such as the possibility of a resurgence of the novel coronavirus infection (COVID-19) and US-China conflicts."

On the same day, Vice Minister Kim held the 14th Innovation Growth Strategy Review Meeting at the Government Seoul Office and stated, "To improve the export environment for companies, we will also prepare multifaceted policy measures such as expanding overseas orders, revitalizing corporate return, and expanding international cooperation."

According to the export-import trends announced on the previous day for June 1-10, our export amount was 12.3 billion dollars, an increase of 20.2% compared to the same period last year. However, considering the number of working days, the average daily export amount was 1.54 billion dollars, a decrease of 9.8%. The government has previously implemented policies such as loan maturity extensions and emergency management stabilization fund loans.

The government also plans to promptly prepare follow-up measures such as the Korean New Deal promotion, Global Value Chain (GVC) innovation strategy, and comprehensive measures to prepare for the post-COVID era, which were announced in the second half economic policy direction.

Vice Minister Kim explained, "We will make thorough preparations in advance so that major legislative tasks requiring legal amendments and the projects of the 3rd supplementary budget (supplementary budget) can be promoted immediately after the supplementary budget passes the National Assembly." He added, "Tasks that can be promoted at the level of each ministry will also be carried out as quickly as possible to be completed within the third quarter."

Lastly, Vice Minister Kim said, "We will regularly check not only the progress of major tasks but also difficulties in the field of execution," and added, "We will promptly supplement any parts that need improvement."

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