On the 5th,
the Korea International Trade Association (KITA, Chairman Christopher Koo) held
“the First Emergency Response Meeting to Overcome Difficulties and Increase
Exports per Industry” at the Samsung-dong Trade Tower. KITA, the Ministry of Trade, Industry
and Energy, 17 associations per industry, the Korea Industry Alliance Forum,
major export companies from each industry participated in this public/private
effort.
Despite Korean
exports reaching a record high last year, this meeting was arranged in order to
improve deteriorating export conditions and conceive improvement measures as
the global economy experienced complex crises and uncertainties increased.
The First
Emergency Response Meeting was held with the automobile, automobile
components and secondary batteries as the industries of focus. A discussion was
held on strengthened policies in major countries such as the U.S. and China to
localize supply chains, and their impact on Korea companies. Discussions were
also held on expanded domestic investment and effects of subsidy policies, and
plans for strengthening the competitiveness of core industries.
Through five
more meetings, KITA aims to provide support for establishment of policies aimed
at early recovery of export vitality and expanding new export growth engines by
reviewing the export situation of promising industries, such as nuclear defense
plants, other than existing core products such as automobiles, shipping and
steel.
At the
Response Meeting, Jeong Marn-Ki, Executive Vice Chairman of KITA, said, “KITA
is gravely aware of deteriorations in export conditions stemming from the
ongoing complex crises and uncertainties in the global economy. For our economy
to gain momentum again, we feel great responsibility to resolve the trade
deficit and weakened exports.” “Through an Emergency Response Meeting for each Industry,
we shall review the export situation of all industries, deliver emergency
recommendations for companies to the government, and seek to have them
reflected in policies,” he added.
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