President Lee Myung-bak sat down with the heads of the Ministry of Knowledge Economy, the Small and Medium Business Administration and the Korea Communications Commission Friday to hear their strategies for the upcoming year.
Beginning the meeting with his key industrial policy makers President Lee set the agenda specifically calling on the nation's large corporations to carry out drastic restructuring on their own.
With the president saying that the conglomerates must boost competitiveness of their main businesses the briefings centered around bringing change to the nation's industrial layout.
restructuring measures, in order to boost the global competitiveness of their main businesses.)
[Reporter : kimbumsoo@arirang.co.kr
ed:dan] "Along these lines the economy ministry proposed providing financial aid to the nation's car manufacturers reeling under liquidity crunch while inducing voluntary restructuring."
With GM Daewoo Auto and Technology, Renault Samsung Motors and Ssangyong Motor already suspending their factory operations the meeting reviewed the possibility of providing long-term low interest loans for auto-research and development.
The meeting also touched on promoting mergers and acquisitions among the nation's shipbuilders as well as relocating some of them to the ship repairing industry.
A government official told a group of reporters that it is still uncertain if the government will provide public funds for companies.
However, he added, that the ministries are currently examining industrial problems.
On top of these efforts the Knowledge Economy Ministry proposed a new goal of having a trade account surplus of 10 billion US dollars next year with the total export target of 450 billion dollars.
That's up 30 billion dollars from even the most positive export outlook.
Kim Bumsoo, Arirang News.
DEC 26, 2008
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Wednesday, FEB 10, 2010, (KST) 
