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S. Korean government vows to provide financial support to minimize fallout, boost competitiveness Updated: 2019-08-14 14:43:25 KST

In line with those measures, South Korea's finance chief says the government will make sure to provide stable funding for the local parts and materials industries to deal with the Japan trade curbs.
At a meeting Wednesday of a consultation body between the rival political parties, the government and the private sector, Hong Nam-ki said that the government is doing all it can to minimize the fallout on local firms and to provide immediate financial support.
Hong vowed to use this as an opportunity to boost the self-reliance of local industries, as well as foster an ecosystem in which both small and big companies can prosper.
All parties, he said, have a role, and he called on the private sector to encourage companies to invest and develop technologies, and asked rival lawmakers to pass the necessary bills.
KOGL : Korea Open Government License
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