Ministerial Candidate Lee Chang-yang "Promoting Growth-Oriented Strategy Through Regulatory Reform and Technological Innovation"

[Image source=Yonhap News]

[Asia Economy Sejong=Reporter Dongwoo Lee] Lee Chang-yang, the nominee for Minister of Trade, Industry and Energy, emphasized, "We will promote a growth-oriented industrial strategy through bold regulatory reforms and technological innovation based on public-private cooperation."

Ahead of the confirmation hearing on the 9th, Lee stated in his opening remarks, "We will strengthen the competitiveness of our companies in response to new challenges such as carbon neutrality and digital transformation, and continuously expand support for research and development and facility investment."

He added, "We will support the creation of new high value-added services and jobs that combine manufacturing and services, and actively foster advanced industries such as semiconductors, artificial intelligence (AI), and batteries as future strategic industries."

He also pledged to pursue a practical new trade policy to strengthen industrial competitiveness and stabilize supply chains.

Lee explained, "Considering today’s situation where industry and trade are more closely linked, we will strive to enhance economic security and stabilize supply chains by securing stable supply of critical minerals and key raw materials, strengthening technology and trade security."

He further added that as a PIPE (linking developing and developed countries) nation, South Korea will become a pivotal country leading the new trade order in the Indo-Pacific region, the center of global economic growth.

He also expressed his intention to pursue a rational and feasible energy policy through energy security and carbon neutrality.

Lee said, "Since energy policy is closely related to the lives of the people, we will make every effort to realize a balanced energy mix and secure diverse opinions and procedural legitimacy in the process," adding, "We will expand the scope of resource security to include hydrogen and critical minerals, and work to stabilize energy supply through stockpile expansion and recovery of the overseas resource development ecosystem."

He continued, "We will rationally utilize nuclear power, a key means of energy security and carbon neutrality, enhance the competitiveness of the domestic nuclear power ecosystem, and actively support the export industrialization of nuclear power."

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