Ministry of Industry Approves Business Restructuring for 15 Companies Entering New Industries Such as Future Cars and Healthcare
[Sejong=Asia Economy Reporter Kwon Haeyoung] On the 21st, the Ministry of Trade, Industry and Energy held the '31st Business Restructuring Plan Deliberation Committee' and approved the business restructuring plans related to future cars and healthcare for a total of 15 companies.
Once approved as a business restructuring company, various government supports such as tax reductions and procedural simplifications can be received according to the Corporate Vitalization Promotion Act.
Among the 15 companies, 6 companies received approval for business restructuring plans to enter the future car sector. Five companies including AIA and Daesung Eltec are pursuing entry into autonomous vehicles, and Hansong Neotek is pushing to enter the electric vehicle sector.
Six companies including Prontec are undertaking business restructuring in the digital transformation sector. They plan to enter new digital industries by utilizing technologies such as the Internet of Things (IoT) and big data. Three companies including Ceragem received approval for business restructuring plans to enter promising healthcare fields such as smart healthcare medical devices.
The 15 companies approved for business restructuring on this day plan to invest a total of 126.9 billion KRW and hire 407 new employees in the future car, digital transformation, and healthcare sectors. This year, a total of 51 companies have been approved for business restructuring, and the cumulative total of approved companies is 217.
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Park Jin-gyu, Vice Minister of the Ministry of Trade, Industry and Energy, said, "The conditions for promoting business restructuring and future response directions will vary greatly by industry such as automobiles, steel, and shipbuilding," and added, "We will prepare sophisticated measures considering the characteristics of each industry regarding business restructuring going forward."
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