Moon Seung-wook "Regional Economic Development Must Be Together... Ministry of Industry Should Be a Policy Platform Center"

Inaugural Address of Moon Seung-wook, New Minister of Trade, Industry and Energy

Moon Seung-wook, nominee for Minister of Trade, Industry and Energy, is delivering opening remarks at the confirmation hearing held at the National Assembly on the 4th. Photo by Yoon Dong-joo doso7@

[Sejong=Asia Economy Reporter Kwon Haeyoung] Moon Seung-wook, the newly appointed Minister of Trade, Industry and Energy, expressed his inauguration remarks on the 6th, saying, "I hope the Ministry of Trade, Industry and Energy becomes one that properly collaborates for regional economic development and presents a vision to companies." He also called for leading inter-ministerial cooperation to strengthen the policy platform role of the ministry.

In his inaugural speech, Minister Moon stated, "Although the ministry's policies and projects have become a source of strength and hope in various regions, there still seems to be a mismatch in the process carried out at the local level." It means that it remains difficult for regions to understand and keep up with the ministry's policies and projects in a short period.

He said, "Just establishing policies and preparing project budgets does not mean those policies and projects are properly executed," adding, "Let us properly guide the purpose of the projects and play a steering role during the execution process so that the intended policy goals are achieved together."

He also emphasized the ministry's role in presenting a vision to companies. Minister Moon said, "Visiting the field, I found that what our companies need most is a future vision and the driving force for change," and added, "Let us carefully prepare so that our policies and projects present a vision to companies and create a virtuous cycle where core talents gather to build the future."

He further evaluated, "The capabilities accumulated by our ministry over a long period while promoting materials and components policies became the foundation to overcome the crisis of Japan's export regulations," and said, "If our ministry had not steadfastly protected the shipbuilding industry, which has undergone restructuring crises, it would not have been able to write the history of being the world's number one in orders today."

He emphasized the ministry's role in preparing for the future by responding to many challenges such as industrial structure innovation due to carbon neutrality and energy transition, securing competitiveness in new growth industries like system semiconductors, future cars, and bio, restructuring global supply chains, and responding to digital and eco-friendly trade norms.

Additionally, Minister Moon said, "When establishing our ministry's policies and projects, let us carefully examine the work of other ministries and strive to present constructive alternatives," and added, "I hope the Ministry of Trade, Industry and Energy reaches out and actively approaches inter-ministerial cooperation so that it becomes the center of the policy platform involving multiple ministries."