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S. Korea to create inter-ministry committee on parts, materials and equipment industries Updated: 2019-08-19 16:09:20 KST

The government is pushing to create an inter-ministry committee to oversee measures aimed at boosting the competitiveness of South Korea's parts, materials and equipment industries.
Trade Minister Sung Yun-mo made the remarks earlier today in a meeting with ruling party lawmakers, while explaining plans to help those industries deal with Japan's trade curbs.
Here he is speaking this morning.

"For the effective and continuous implementation of policies, we are seeking to establish a government-wide committee. We're also pushing to revise special acts for the parts, materials and equipment industries. The government is working with related ministries so there are no supply problems. We think this is an opportunity to fundamentally boost our competitiveness."

He added that the government is almost done getting ready to waive the preliminary feasibility studies required for big-budget projects in those industries.
It's hoped that'll speed up improvements to their competitiveness because until now projects getting more than 24 million U.S. dollars from the government had to carry out those tests to prevent waste.
Ruling party lawmakers said they'll visit more small and big companies, to hear what they make of the government's plans and take their demands into consideration when deciding on future support.
KOGL : Korea Open Government License
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