'Astronaut' Gosan-do Assists Minister of Industry... Policy Advisory Committee Held

Minister Lee Chang-yang Holds 'Ministry of Industry Policy Advisory Committee' Meeting

Minister Lee Chang-yang delivering a congratulatory speech
(Seoul=Yonhap News) Lee Chang-yang, Minister of Trade, Industry and Energy, is delivering a congratulatory speech at the "Win-Win Cooperation Agreement Ceremony for the Successful Establishment of the Yongin Semiconductor Cluster" held at the National Assembly on the 21st. 2022.11.21 [Provided by the Ministry of Trade, Industry and Energy. Redistribution and DB reproduction prohibited]
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[Asia Economy Sejong=Reporter Lee Jun-hyung] The Ministry of Trade, Industry and Energy's Policy Advisory Committee, composed of 21 members including Go San, CEO of A-Team Ventures and the first Korean astronaut candidate, has been launched.

The Ministry of Trade, Industry and Energy announced on the morning of the 25th that it held the '2022 Ministry of Trade, Industry and Energy Policy Advisory Committee' at the Korea Chamber of Commerce and Industry in Seoul, chaired by Minister Lee Chang-yang. The Policy Advisory Committee is a policy advisory organization that a central government minister can form with about 30 experts according to the presidential decree 'Policy Advisory Committee Regulations.' Recently, the ministry appointed 21 private members to the committee, including CEO Go, Kim Dong-eun, head of the law firm Kwangjang, and Kim Heung-jong, president of the Korea Institute for International Economic Policy.

Minister Lee chaired the Policy Advisory Committee for the first time in half a year since his inauguration in May this year due to growing economic uncertainties caused by the recent triple crisis (high inflation, high exchange rates, and high interest rates) and the prolonged Ukraine situation. A ministry official explained, "This committee was held to discuss policy directions to proactively respond to the overall industrial crisis including the economy and finance."

Gosan, a member of the Economic Subcommittee 2 of the Presidential Transition Committee, is giving a briefing on the industrial technology R&D system at the Transition Committee press conference hall in Tongui-dong, Jongno-gu, Seoul, on April 26./Photo by Hyunmin Kim kimhyun81@

On this day, the Policy Advisory Committee presented policy achievements and future key tasks in fields such as industry, energy, and trade. The committee first shared the 'Industrial Great Transition Strategy' being developed by the ministry and discussed major contents such as investment promotion, securing innovative talent, and productivity improvement.

Measures to revitalize corporate regional investment to realize the current administration's national agenda of the local era were also discussed. The committee also held discussions on the global supply chain instability. Specifically, measures such as strengthening management systems including monitoring key items, expanding the domestic supply chain base, and diversifying external supply chain risks were discussed.

The energy crisis triggered by the Ukraine situation was also on the agenda. The committee reached a consensus on the need to promote the enactment of the 'Resource Security Special Act' to respond to energy supply and demand instability. Support measures to activate private-led overseas resource development investment were also discussed.

Minister Lee emphasized the importance of the Policy Advisory Committee. He said, "Unreserved advice from policy advisors is necessary to overcome the economic crisis and achieve growth," adding, "We will reflect the opinions discussed in this committee into the ministry's policies."