The Ministry of Commerce, Industry and Energy's (MOCIE) policy propulsion direction has been proposed by Oh Young-ho, vice minister for Commerce, Industry and Energy. He aims to do a variety of things to foster economic growth in the country.
First, he hopes to create employment and thereby balanced economic growth. He also hopes to create new growth industries in the interest of improving the average quality of life in the future. He hopes to construct the groundwork that will enable the country to reach the one trillion dollar trade mark with the globalization of corporate management. Finally, he seeks to lay the groundwork for a stable supply of environmentally-friendly energy.
First of all, MOCIE decided to facilitate employment creation through object economy activation. To that end, the Ministry envisions actively to propel industry policy to spearhead employ creation. Since the foreign exchange crisis, growth potential decline has been concerned due to corporate environment's uncertainty, conservative management pattern as well as investment dullness continuation owing to domestic demand stagnation, MOCIE officials point out.
So the Ministry decided to support innovation-model small and mediumsized company's growth whose employment creation effect is big.
Moreover by nurturing knowledge- based service industry, new employment creation will be facilitated, according to MOCIE officials. It is said that MOCIE minister Kim Young-ju is very interested in devising employment enlargement through continuous growth of major key industries and further in fostering good quality's employment creation circumstance by constructing global supply base of component as well as material industry.
Second, MOCIE plans to construct balanced growth as well as growth base to boost the future's life's quality.
Due to external dependency on the core source technology and China's rapid emergence, Korean economy is worried about its role retrenchment in world market. Hence, it is necessary to strive for new employment creation while securing continuous growth engine by accepting new change and by leading innovation.
Keeping an eye on such facts, MOCIE will construct accompanying growth groundwork between regions by means of balanced development outcome spread.
What's more, the Ministry plans to establish innovation initiative-model growth groundwork through industry technology innovation system construction plus expanding growth engine groundwork through national standard system innovation as well as securing global leading competitiveness by sustainable management diffusion.
In connection with an advanced commerce power construction to accomplish trade 1 trillion dollar, MOCIE officials involved in trade within the Ministry said: "The Ministry will do its best to allow twodigit export increase pace to be maintained by means of strategic trade policy propulsion with the view of accomplishing trade 1 trillion dollar in an early stage.
As regional integration takes place quickly by FTA's competitive spread and strategic connection between economy integration bodies is intensified centering around EU, the continents of America and Asia, it is demanded for Korea to beef up domestic industry's competitiveness with FAT enlargement with key markets in mind and to propel industry/trade countermeasures for the purpose of FTA effect maximization.
As part of such efforts, high valueadded creation-model foreign investment will be induced actively. On top of that, MOCIE is expected to create a commerce collaboration system for global management diffusion and to unfold strategic trade policy for the early accomplishment of trade 1 trillion dollar.
MOCIE officials involved in its affairs plan in 2007 didn't forget to touch upon a stable energy supply and demand system construction through resource development as well as efficiency increase.
They said that MOCIE will drive forward supply side's energy security and demand side's efficiency boost and environment as energy policy's three basic directions this year.
