Vice Minister Ki Jae: "Korea Donghaeng Sale Aims to Be a Breakthrough for Domestic Demand Recovery"

Lee Ok-won, First Vice Minister of Strategy and Finance, speaking at the Macroeconomic Finance Meeting held at the Bankers' Hall in Jung-gu, Seoul on the 1st. Photo by Moon Ho-nam munonam@

[Sejong=Asia Economy Reporter Moon Chaeseok] Lee Okwon, the 1st Vice Minister of the Ministry of Economy and Finance, chaired the first meeting of the government's 2nd phase Service Industry Innovation Task Force (TF) on the 1st and stated, "We plan to use the Korea Together Sale as a breakthrough for domestic demand recovery." He also emphasized, "I earnestly appeal for the prompt passage of the Service Industry Development Basic Act (Seobalbeop) in the National Assembly."

The 2nd phase TF includes nine ministries, including the Ministry of Economy and Finance. Measures related to accelerating innovation such as non-face-to-face and digital transformation, and preemptive legislative response to the Seobalbeop will be announced starting this month.

Vice Minister Lee emphasized bold innovation, a shift in perception, communication, and collaboration. First, he stressed that mega trends such as the COVID-19 pandemic, new technology development, demographic changes, and intensified global competition will serve as opportunities for our service industry to advance to the next level.

He mentioned that it is important to have the attitude of a 'rule breaker' who breaks the mold and creates a blue ocean, moving away from manufacturing-centered thinking. He urged breaking down barriers between ministries and communicating openly without reservation.

Furthermore, he appealed that only if the Seobalbeop passes the National Assembly can fundamental changes and long-term fostering of the service industry be achieved. The 2nd phase TF will be utilized as a joint response organization in preparation for the legislation of the Seobalbeop.

At the meeting, two agenda items were discussed: the major tasks and operation plans of the 2nd phase TF, and detailed operation plans by working groups. They also discussed the 'Korea Together Sale Promotion Plan,' reflecting the non-face-to-face consumption trend after COVID-19.

The government plans to supplement the key tasks discussed on this day and announce them through the Central Disaster and Safety Countermeasures Headquarters for the Economy (Economic Central Disaster Headquarters) and others.

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