Anduk Geun, Minister of Industry, "Let's Breathe Vitality into Exports, Investment, and Regional Economy"

Inauguration Ceremony at Government Sejong Complex on the 8th
"Eliminate Excessive Regulations in the Labor Sector
and Expand Incentives Such as Tax Benefits"

Anduk Geun, Minister of Trade, Industry and Energy, emphasized "pioneering new export markets" as his inaugural statement on the 8th. Building on the free trade agreements (FTAs) and economic partnership agreements (EPAs) concluded so far, and following the conclusion of FTA negotiations with the Gulf Cooperation Council (GCC) countries in the Middle East at the end of last year, he intends to pioneer new export markets tailored to the demands and trends of each market based on the expanded economic stage.

Anduk Geun, Minister of Trade, Industry and Energy, is speaking at the inauguration ceremony held at the Government Sejong Complex on the 8th. (Photo by Ministry of Trade, Industry and Energy)

On this day, Minister Ahn stated in his inaugural speech, "Let us invigorate the real economy focusing on exports, investment, and regional economies," and emphasized, "We will proactively respond to trade measures from major countries such as the United States, China, and the European Union (EU), and promptly resolve the three major export difficulties?finance, marketing, and certification?to ensure that our export companies face no disruptions."

He also promised to abolish regulations to strengthen the value chain established across all manufacturing sectors and the comparative advantage of advanced industries such as semiconductors, as well as to revitalize regional economies. He said, "We must eliminate excessive regulations in location, environment, and labor sectors, and concentrate policy capabilities on making our country a global investment hub attracting world-leading advanced companies by expanding incentives such as financial support and tax benefits," adding, "By promoting large-scale local investments centered on opportunity development special zones and industrial complex renovation policies, and encouraging the influx of young people, let us create an era where living anywhere in the regions is desirable."

Minister Ahn also identified strengthening the foundation as a global industrial powerhouse centered on advanced industries as a key policy direction. He explained, "We must spare no support to ensure our companies secure overwhelming super-gap manufacturing capabilities through the expansion of national advanced strategic industries designation, tax and financial support, timely supply of infrastructure such as power and water, and swift permits and approvals," and added, "While thoroughly managing supply chains through international cooperation, we will also prepare policies to spread digital transformation represented by eco-friendly and AI autonomous manufacturing across the entire core manufacturing sector."

Minister Ahn also emphasized his commitment to energy security and achieving carbon neutrality through the spread of carbon-free energy. He stated, "We must establish the 11th Basic Plan for Electricity Supply and Demand, reflecting a rational and harmonious energy policy that ensures stable power supply in preparation for future demand increases in advanced industrial complexes while moving toward carbon neutrality," and informed, "We intend to devote efforts to the spread of carbon-free energy that can solve both energy security and carbon neutrality challenges."

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