Trade Minister Kim Jung-kwan speaks to reporters on the Authorities Complicated Sejong, Dec. 17. Yonhap
The Ministry of Commerce, Trade and Sources will perform its largest organizational restructuring in over a decade to spice up its response capabilities to international commerce uncertainties and deal with fostering the expansion of synthetic intelligence (AI) and different superior industries, officers stated Tuesday.
The restructuring plan, the most important since 2013, was accepted at a Cupboard assembly for the beginning of its implementation subsequent week, based on the ministry officers.
Beneath the plan, the ministry will create a brand new division for useful resource safety, which is able to function a management tower for financial and industrial safety insurance policies amid heightened provide chain uncertainties sparked by tensions between the USA and China over important minerals.
It’s going to additionally newly create two groups devoted to fostering the expansion of the AI business and selling the AI transformation of the manufacturing sector.
One other staff shall be established to higher deal with commerce points with the U.S., together with envisioned industrial cooperation initiatives below the nations’ bilateral commerce deal signed earlier this 12 months, whereas one more staff shall be launched to bolster assist for protection exports, based on the ministry.
The ministry stated it’s going to additionally strengthen its features to advertise balanced regional progress, increase the competitiveness of superior industries and streamline laws to assist industrial innovation.
“Constructing on the capabilities of the reorganized ministry, we are going to work to efficiently implement key nationwide coverage duties, together with the promotion of regional progress and company vitality,” Trade Minister Kim Jung-kwan stated in a press launch.
“The ministry will take a number one function in making certain our industries and corporations keep a aggressive edge amid intensifying international competitors,” he added.
