Koo Yun-cheol, Deputy Prime Minister and Minister of the Ministry of Economy and Finance, said on the 24th that the petrochemical industry did not miss the golden time and "got the first button right."
Ku, the deputy prime minister, stated accordingly at the morning meeting of ministers on economic affairs and the meeting of ministers on strengthening industrial competitiveness, introducing the status of the push to restructure the petrochemical industry.
He said, "The business restructuring plans of 16 corporations in three industrial complexes were all submitted ahead of the Dec. 31 deadline," adding, "Some corporations outside the voluntary agreement also submitted additional plans."
At the same time, "If the plan is carried out faithfully, we will be able to achieve the initial facility reduction target," and "For the Daesan Project No. 1, which submitted its plan first, we will swiftly prepare support measures along with approval for business restructuring early next year."
Ku, the deputy prime minister, also said that he would enact a special law for small and midsize business succession through mergers and acquisitions so that promising small and midsize corporations can grow stably. To that end, he said he would ease M&A requirements under the Commercial Act, including special cases for small-scale mergers and shareholders' meetings, and introduce an M&A intermediary institution platform and a registration system for professional intermediaries.
Ku, the deputy prime minister, also said, "We will raise consumer goods exports from $42.7 billion last year to around $70 billion by 2030." To that end, he said, "We will significantly expand trade insurance for consumer-goods corporations to 25 trillion won and foster 100 star corporations that export more than $10 million annually."
He also said, "We will establish a global voluntary carbon market roadmap." He said Korea would work with international organizations to establish methodologies and standards and build a multilateral platform that multiple countries can join. Along with this, he said, "We will use AI and Blockchain to enhance trust in the international carbon market and actively foster climate-tech corporations."