Vice Minister of Economy and Finance: "Fears of Real and Financial Crises Have Somewhat Subsided... K-Shaped Shock Continues" (Update)

"Establishment of Exhibition Halls for Top 10 Export Industries in Online Space"
"Operation of Specialized Training Courses in 6 Fields Including Cloud and Smart Manufacturing"

Kim Yong-beom, the 1st Vice Minister of the Ministry of Economy and Finance, is delivering opening remarks while presiding over the "34th Innovation Growth Strategy Review Meeting, Policy Review Meeting, and 7th Korean New Deal Review TF Meeting" held at the Government Seoul Office Building on the 11th.

[Asia Economy Reporter Kwangho Lee] Kim Yong-beom, the 1st Vice Minister of the Ministry of Economy and Finance, said on the 11th, "The fear of a triple complex crisis, where the health crisis could lead to a vicious cycle of real and financial crises, has somewhat subsided," adding, "However, the K-shaped shock that differentially affects face-to-face and non-face-to-face sectors, as well as domestic consumption and exports, continues."

On the same day, at the 34th Innovation Growth Strategy Review Meeting, which was also a policy review meeting and the 7th Korean New Deal Review TF meeting held at the Government Seoul Office, Vice Minister Kim stated, "To overcome this period of confusion, flexibility is needed to look far ahead while closely examining the present to find creative solutions."

The meeting discussed ▲ the current status and plans for supporting non-face-to-face and online exports ▲ and the establishment of a cooperative system for nurturing core talents in digital and new technologies.

Vice Minister Kim expressed, "We plan to establish a permanent exhibition hall in the online space within this year, focusing on the top 10 industries such as textiles and bio-health, and next year, expand it to service industries, food, defense, environment, and firefighting."

He added, "We will continuously consolidate cross-ministerial support capabilities to maintain the momentum of export recovery."

Regarding the establishment of a cooperative system for nurturing core talents in digital and new technologies, Vice Minister Kim mentioned, "To adapt to the new environment of the digital economy and green economy and to lead new technologies, securing future-oriented core talents is important," and "Next year, we plan to expand the scope of manpower demand forecasts to green sectors such as water industry, air industry, and pollutant reduction."

Vice Minister Kim explained, "For six fields including cloud and smart manufacturing, we will operate specialized training courses according to training levels," and "We plan to provide integrated information on various talent development projects through the vocational training portal site (HRD-Net)."

Regarding the external environment, Vice Minister Kim also said, "The prospect of a no-deal Brexit, which is just three weeks away, cannot be treated as a distant issue," and urged, "The more uncertain the landscape seen through a telescope, the more closely we must examine the internal situation with a microscope."

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