SEOUL, Oct. 5 (Yonhap) — The Ministry of Trade, Industry and Energy held a meeting with relevant ministries and major companies to discuss strategies to increase exports, which have been on a downturn since October 2019. The government set a goal of $685 billion in exports this year, though the finance ministry predicted a 4.5 percent decrease in 2023.
At the meeting, the ministry proposed nine projects in the sectors of mobility, energy and materials and components, with the aim of acquiring $31.4 billion in foreign contracts and selling $26.3 billion worth of goods and services abroad. These projects included EVs, secondary batteries, multi-purpose helicopters and robots, wind power equipment, hydrogen fuel cells, oil and gas plants and OLED display items.
The government also declared its intent to offer legal counseling services and various forms of support to protect the intellectual property rights of domestic firms, as well as to expand global sales of South Korean beauty items, food and other cultural contents. Additionally, a delegation will be sent to Ukraine to support South Korean companies’ participation in reconstruction projects.
Industry Minister Bang Moon-kyu remarked, “We are now standing at a critical juncture in terms of achieving export growth. The government will mobilize all possible capabilities.”
This file photo taken Aug. 1, 2023, shows a port in the southeastern city of Busan. (Yonhap)
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