Ministry of Industry Launches 'Korean New Deal' Industry and Energy Control Tower... "Early Achievement Creation"

Formation of Task Force Led by Vice Minister Jeong Seung-il
Heads of Departments and Affiliated Agencies Collaborate
Launch of Expert-Inclusive 'Green New Deal Policy Forum'

Jung Seung-il, Vice Minister of the Ministry of Trade, Industry and Energy / Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Kim Bo-kyung] The Ministry of Trade, Industry and Energy launched a control tower on the 17th to achieve early results in the industrial and energy sectors as part of the 'Korean New Deal' promotion tasks.

On the morning of the same day, Jeong Seung-il, Vice Minister of the Ministry of Trade, Industry and Energy, inaugurated the 'Industrial and Energy Korean New Deal Promotion Team' at the Korea Chamber of Commerce and Industry and held the first meeting. Together with heads of relevant departments and officials from affiliated organizations, they discussed strategies for establishing a promotion system and achieving early results in the industrial and energy sectors.

Earlier, on the 14th, the government announced a comprehensive plan for the Korean New Deal worth 160 trillion won. It presented 28 tasks across three major areas: Digital New Deal, Green New Deal, and strengthening employment and social safety nets, along with 10 representative tasks.

The Ministry of Trade, Industry and Energy will systematically promote the policies and projects under its responsibility included in the comprehensive plan by organizing and operating a promotion team led by the Vice Minister.

Among the 10 representative tasks, the Ministry will form dedicated teams within the promotion team to implement three Green New Deal tasks it leads: green energy, smart and green industrial complexes, and eco-friendly future mobility. Additionally, regarding the Digital New Deal, an industrial intelligence promotion team will be newly established to accelerate the digital transformation of manufacturing.

The four teams will each be overseen by a director-level official to swiftly implement the New Deal measures and produce tangible results that the public can feel.

The promotion team plans to monitor and manage the execution status, including budget spending and discovery of performance projects, and discuss promotion strategies. Support institutions in each field, such as the Korea Industrial Complex Corporation, Korea Energy Agency, Korea Automotive Technology Institute, and Korea Institute for Advancement of Technology, will also participate to solidify the New Deal projects.

In particular, the 'Green New Deal Policy Forum' will be launched to hold a series of expert forums in fields such as renewable energy, eco-friendly transportation, and energy digitalization to discuss development plans for the Green New Deal.

Vice Minister Jeong stated, "Due to the novel coronavirus disease (COVID-19), uncertainty about the future of our economy is increasing and industrial structural changes are accelerating. We will strongly promote the digital and green transformation of the industrial ecosystem through the Korean New Deal to innovate the industrial structure and strengthen the competitiveness of the industrial ecosystem."

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