The South Korean government is going to encourage more investment in companies that enhance the country's competitiveness in exports so it can recover from crises such as the COVID-19 pandemic.
President Moon Jae-in said in an expanded meeting of economy-related ministers today that now is the time to focus on fostering key industries such as semiconductors.
The President pointed out that the semiconductor industry is among those showing the most distinct restructuring in terms of the global supply chain.
And he pledged to actively support the industry so that Korea keeps its leading position.
He asked economy-related ministries to ease excessive regulations that discourage innovation and to promote active investment so that the economy recovers.