Exemption of Preliminary Feasibility Study for Yongin Semiconductor Cluster... KITA Vice Chairman Calls It "Timely"

Government Comments on 'Additional Support Measures for Export Promotion'

Jung Manki, Vice Chairman of the Korea International Trade Association, expressed his welcome for the additional support policies announced by the government on the 4th. The government is promoting the exemption of preliminary feasibility study (PFS) for the Yongin Semiconductor National Industrial Complex and announced the 'Additional Support Plan for Export Activation,' which supplies up to 181 trillion won in trade and export financing this year.

Vice Chairman Jung said, "In a situation where Korean exports are facing difficulties due to the global economic slowdown, the government's plan to diversify items and regions and strengthen export infrastructure support such as overseas certification, finance, marketing, logistics, and customs clearance is not only timely but will also bring new vitality to the trade industry."

He added, "In particular, expanding participation of new export companies in overseas exhibitions, simplifying export country approvals for pharmaceuticals, and expanding port infrastructure will help Korean export companies pioneer markets and expand short-term exports. Support for subsidies to companies returning to the country in the national advanced strategic industry sector and dispatching order support teams to emerging markets are expected to contribute to medium- and long-term export growth."

The area around Namsa-eup, Cheoin-gu, Yongin-si, Gyeonggi-do, designated as a national semiconductor industrial complex. Photo by Jinhyung Kang aymsdream@

Vice Chairman Jung emphasized the need to present fundamental solutions such as regulatory improvement and response to population decline on this occasion. He said, "Going forward, I suggest that the government improve various regulations to meet global standards, promote the utilization of female workforce, and prepare measures to address the decline in the working population, thereby overcoming the fundamental difficulties faced by export companies."

He also stated, "The trade industry will do its best to pioneer markets and enhance global competitiveness so that the growth trend of Korean exports can be restored."