Kim Seongsu, Head of Innovation Division, "1 Year of Japan's Export Restrictions, Stability in Supply of 3 Major Items"

Kim Seong-su, Director General of the Science and Technology Innovation Bureau at the Ministry of Science and ICT, is delivering a greeting at the '2020 Government R&D Joint Ministry Briefing' held at Soongsil University in Dongjak-gu, Seoul, on the 6th. Photo by Kang Jin-hyeong aymsdream@

[Asia Economy Reporter Junho Hwang] The government evaluated that although Japan's export restrictions have been prolonged, the practical supply stability of the three core items has been achieved. It also announced that South Korea's materials, parts, and equipment (SoBuJang) competitiveness has been further strengthened.

On the 25th, Kim Seongsu, Head of the Science and Technology Innovation Bureau at the Ministry of Science and ICT, held a meeting in Gwanghwamun, Seoul with Samsung Electronics, LG Display, Hyundai Motor Company, Doosan Machine Tools, LG Chem, SKC, and others.

At the meeting, Head Kim stated, "As a result of companies and the government working together and responding swiftly, we secured practical supply stability for the three major items subject to Japan's export restrictions and achieved outcomes such as diversifying supply sources for core items."

He added, "I believe that the competitiveness of the domestic SoBuJang industry has further advanced through R&D and demonstrations linked between demand companies and supply companies."

The meeting was held to review the progress of R&D promotion for South Korea's core strategic SoBuJang items and to prepare alternatives in response to the global supply chain restructuring caused by the novel coronavirus infection (COVID-19).

Considering the competitive relationships between companies and the risk of business secret leaks, Head Kim conducted the meeting in the form of individual interviews with each company. Each company held an individual interview with Head Kim for about 30 minutes.

Meanwhile, the Ministry of Science and ICT plans to hold one more session next month with small and medium-sized enterprises and mid-sized companies, starting with this meeting.

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