Minister Moon Seung-wook's Farewell Ceremony at Sejong Government Complex: "A Time of Change and Challenge in the Supply Chain Crisis"

The Foundry Industry Meeting was held on the 6th at the Korea Federation of SMEs in Yeongdeungpo-gu, Seoul, chaired by Moon Seung-wook, Minister of Trade, Industry and Energy. The meeting was attended by Minister Moon, Kim Ki-moon, Chairman of the Korea Federation of SMEs, representatives of the existing six major foundry associations including casting, mold, plastic working, welding, heat treatment, and surface treatment, as well as representatives of cooperative and industrial organizations from the next-generation eight major process fields newly included in the foundry industry, such as additive manufacturing and precision machining. Photo by Moon Ho-nam munonam@

[Asia Economy Sejong=Reporter Dongwoo Lee] Moon Seung-wook, Minister of Trade, Industry and Energy, reflected on his one-year term on the 12th, saying, "In an era of rapid changes such as COVID-19, supply chain crises, and carbon neutrality, it was a time of change and challenge to devise new response strategies and seek opportunities across all fields of industry, trade, and resources."

Minister Moon concluded his 32-year public service career with a farewell ceremony on the same day, citing major achievements such as "the highest-ever exports, record-breaking trade volume, and the shortest period to achieve 1 trillion dollars in trade."

He stated, "Foreign investment also recorded an all-time high, and with the entry into force of the Regional Comprehensive Economic Partnership (RCEP) and free trade agreements (FTAs) expanding to over 60 countries, we paved the way for our companies to create more opportunities in the global market."

Regarding strengthening economic security centered on supply chain stability, he recalled, "Thanks to the collaboration and efforts of you and the industry, we managed the supply chain without disruption amid the crisis, laying the foundation for our industrial ecosystem, which has a robust technology and manufacturing base, to be recognized as a lever of security."

On the national greenhouse gas reduction target (NDC) for 2030, Minister Moon said, "We adjusted the pace between the energy and industrial sectors to give the industry more time to adapt," adding, "Renewable energy and hydrogen energy will accelerate as the main engines leading the future energy environment, with institutional support to promote aggressive investment."

He also wished for "successful orders" in promising nuclear power markets such as the Czech Republic, Poland, and Saudi Arabia.

In closing, Minister Moon urged, "With the Ukraine war, China's lockdowns causing supply chain and energy supply instability, rising raw material prices, interest rate hikes, and exchange rate volatility all converging, red flags are appearing in domestic and international economic indicators. The Ministry of Trade, Industry and Energy must play a central role to prepare our economy, and furthermore, actively serve as a problem solver for other national challenges such as youth employment."

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