Martial Arts, Daegu-Gyeongbuk Hold Industry Meeting to Expand Exports

On the 10th, the Korea International Trade Association (KITA) held a "Meeting with Trade Industry of Daegu and Gyeongbuk for Export Expansion" in the conference room of Ilji Tech headquarters in Gyeongsan, Gyeongbuk, chaired by KITA Vice Chairman Jeong Manki.

The purpose of this meeting was to identify difficulties and regulatory issues faced by export companies on the ground. To this end, seven export businesspeople from the Daegu and Gyeongbuk regions attended, including Na Seonghwa, Deputy Head of the One-Stop Export and Order Support Group, and Gu Junmo, CEO of Ilji Tech.

In his opening remarks, Vice Chairman Jeong said, "As of the end of March, exports amounted to 151.6 billion dollars, down 12.6% compared to the same period last year," adding, "The trade deficit until March was 24.2 billion dollars, accounting for 6.9% of the total trade volume, which is similar to the 7.4% level just before the IMF financial crisis."

He continued, "The export crisis is due not only to external factors but also internal ones," noting, "Over the past five years, policy factors have weakened our overall export industry base." He also emphasized, "To expand corporate exports, small issues should be resolved as small issues, but large issues must also be continuously addressed."

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On this day, participating companies expressed opinions regarding restrictions on industrial complex occupancy. Jo Jaegon, CEO of Youngpoong Co., an export company of processed foods, said, "We are looking for new sites to expand our factory, but due to pollution issues, the food manufacturing industry is classified as a restricted industry for industrial complex occupancy, making it difficult to move in," and requested, "Since food manufacturing does not emit pollutants through production process development, please reflect the approval of occupancy through individual company site inspections."

Opinions were also raised regarding restrictions on strategic goods exports. Gu, CEO of Ilji Tech, an automobile parts export company, said, "Due to the South Korean government's announcement in February to expand export sanctions on Russia, the risk for goods currently being exported to Russia has increased," and stated, "Before the revised notification scheduled to be implemented this month, for goods with export declarations completed, immediate export should be allowed by exempting the situation permit to minimize corporate damage."

Regarding this, Deputy Head Na said, "We received a response from the government department in charge that exports are possible for goods with export contracts concluded before the enforcement of the revised strategic goods export-import notification related to sanctions on Russia," adding, "We will continue to provide timely information to the industry, which faces difficulties accessing information."

KITA plans to prepare specific policy alternatives regarding the difficulties raised by companies at this meeting and propose them to the One-Stop Export and Order Support Group and relevant government ministries (Ministry of Trade, Industry and Energy, Ministry of Land, Infrastructure and Transport, Ministry of SMEs and Startups, etc.).

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