Lee vows to achieve $1 tln in annual exports

이해아 / 2022-01-12 11:33:30
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Lee-industry pledge
▲ Lee Jae-myung, the presidential nominee of the ruling Democratic Party, announces his campaign pledges for industry at the office of the Korea Industrial Technology Association in southern Seoul on Jan. 12, 2022. (Pool photo) (Yonhap)

Lee-industry pledge

Lee vows to achieve $1 tln in annual exports

SEOUL, Jan. 12 (Yonhap) -- Ruling party presidential candidate Lee Jae-myung pledged Wednesday to achieve US$1 trillion in annual exports by fostering 10 key industries ranging from semiconductors to aerospace.

Lee of the Democratic Party said he will attain the goal during his five-year term if elected on March 9.

South Korea posted a record $644.5 billion in exports last year, up 25.8 percent from 2020.

"I will push for a Big 10 Industry Project that will lead the future industries of the Republic of Korea," Lee said while announcing the pledge at the office of the Korea Industrial Technology Association in southern Seoul.

Under the plan, Lee said he will establish "super clusters" for five of South Korea's globally competitive industries, including the semiconductor, future mobility and secondary battery businesses.

At the same time, he said he will foster five emerging industries, including the robot, green energy and aerospace sectors.

"In order to open a $1 trillion export era, we must first diversify our goods and markets," the candidate said. "I will achieve a diversification of export goods from our main export items, such as memory semiconductors, petrochemicals and machinery, to future industry goods, like biohealth and next-generation mobility, as well as agriculture, livestock and fisheries."

Lee said he will improve the areas of human resources, funds and regulations to maximize the potential of the so-called Big 10 industries.

To prevent the recurrence of supply chain crises, such as the recent shortage of urea imports, he also promised to establish a system to oversee each ministry's response to supply chain issues and strengthen strategic cooperation with the United States, China and other key partners.

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