The Ministry of Trade, Industry and Energy announced on the 9th that it will hold the launching ceremony of the 'Steel Industry Competitiveness Enhancement Task Force (TF)' at the Korea Chamber of Commerce and Industry in Seoul, co-chaired by Lee Seung-ryeol, Director of Industrial Policy, and Min Dong-jun, Professor at Yonsei University.
The TF, composed of top experts from industry, academia, and research institutes, will serve as a platform for public-private collaboration to address trade issues in the short term, while drawing a future blueprint for the steel industry in the long term. The TF plans to establish three subcommittees under its umbrella?Competitiveness Enhancement, Low-Carbon Steel, and Trade Issues?to conduct discussions by sector.
At the launching ceremony, each subcommittee will present on development plans for the steel industry, key tasks for implementing low-carbon steel, and changes and challenges in the steel trade environment.
Min Dong-jun, Professor at Yonsei University and co-chair of the TF, stated, "For the steel industry to create a long-lasting future, it must remember a new past," adding, "To overcome new Kondratiev waves (medium- to long-term economic cycles of 50-60 years caused by technological changes) such as carbon neutrality, artificial intelligence (AI), and new materials, efforts should be made to collaborate with future related industries just as the industry has grown alongside past related industries."
Lee Seung-ryeol, Director of Industrial Policy, expressed, "I hope 2025 will be a turning point where the steel industry overcomes difficulties and embraces a new future," and added, "We will promptly prepare effective steel industry measures by synthesizing discussions from the TF."
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