Prime Minister Kim: "Comprehensive Support for Corporate Innovation... We Will Stand with K-Trade"

Prime Minister Kim Minseok stated on December 4, "We will support corporate innovation with the National Growth Fund worth 150 trillion won, and provide comprehensive support across research and development (R&D), taxation, infrastructure, and regulatory improvements."

Prime Minister Kim Minseok is delivering a commemorative speech at the "62nd Trade Day Ceremony" held at COEX in Gangnam-gu, Seoul on December 4, 2025. Photo by Kang Jinhyung

At the 62nd Trade Day Ceremony held at COEX in Seoul on this day, Prime Minister Kim delivered a congratulatory address, saying, "We will provide over 100 trillion won in trade insurance for small and medium-sized enterprises as well as mid-sized companies, and expand the mutually beneficial financial program based on contributions from large corporations to all industries." He added, "The government will stand by K-Trade as it forges a new path to the very end."

Prime Minister Kim also said, "Culture itself is a highly potential export product, and when combined with industry, it becomes a powerful export engine," adding, "Through K-Culture, which is spreading around the world, we will add the 'K Premium' to Korean products."

Before starting his congratulatory speech, Prime Minister Kim pointed to Minister of Trade, Industry and Energy Kim Jeonggwan, who was also present at the ceremony, and led a round of applause by calling him "the 'K-Negotiator' whom President Trump once described as formidable." This was in recognition of Minister Kim's outstanding efforts during the recent Korea-U.S. tariff negotiations.

Prime Minister Kim expressed his deep respect and gratitude to all those in the trade sector who have dedicated themselves on the front lines of exports, stating, "Trade and commerce have always been the backbone of our economy." He continued, "As of last month, our exports surpassed 640 billion dollars, achieving an all-time record." He emphasized, "The government will work together with all of you who have achieved these remarkable results to pave a new path for trade through innovation, culture, and mutual growth."

Meanwhile, since Trade Day was designated as a legal commemorative day in 1964, the ceremony has been held annually, with most former presidents attending. However, this year, Prime Minister Kim attended the event in place of President Lee Jaemyung. Except for special circumstances such as former President Park Geunhye during her impeachment in 2014 and former President Yoon Sukyeol, who declared martial law last year, it is highly unusual for the president not to attend in person. Some interpret this as reflecting the presidential office's discomfort with the fact that Yoon Jinshik, a former member of Yoon Sukyeol's presidential campaign, still serves as chairman of the Korea International Trade Association.

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