S. Korean gov't to focus on conglomerates during May, June
- 5 years ago
한중일 재무장관•중앙은행 총재 "보호무역주의 거부 입장 확인"
South Korea's foreign minister will tour major conglomerates in the nation over the next two months. The government is shifting its focus from small and medium sized businesses to large corporations in the hopes of encouraging them to expand investment.
Our Cha Sang-mi has the details.
In line with the government's efforts to boost the nation's economy, Finance Minister Hong Nam-ki will tour conglomerates over the next two months to drum up support for government policy.
Speaking to reporters on the sidelines of the 22nd ASEAN+3 Finance Ministers and Central Bank Governors Meeting Thursday... Hong said conglomerates should expand investment to overcome the economic woes at hand.
Hong said the government's focus will shift from small and medium sized businesses to large corporations.
The minister's remarks come after data released by the central bank last week, showed the lowest ever quarterly gross domestic product since the 2008 financial crisis.
As for trade, Hong expressed concern that Korean-made cars could become the target of U.S. import tariffs. He said he has delivered these concerns and the ministry is looking into ways to address any emergencies.
His comments follow a meeting between he finance ministers and central bank governors of South Korea, China and Japan, during which they reaffirmed their commitment to resist all forms of trade protectionism.
At their 19th trilateral meeting in Fiji on Thursday,... the financial authorities discussed upholding an open and rule-based multilateral trade and investment system,... as well as accelerating intra-regional trade and investment activities.
The three sides also agreed to further improve communication and coordination.... to contribute to strong, sustainable, balanced and inclusive growth.
The 20th meeting will take place in Incheon, South Korea next May.
Cha Sang-mi, Arirang News.
South Korea's foreign minister will tour major conglomerates in the nation over the next two months. The government is shifting its focus from small and medium sized businesses to large corporations in the hopes of encouraging them to expand investment.
Our Cha Sang-mi has the details.
In line with the government's efforts to boost the nation's economy, Finance Minister Hong Nam-ki will tour conglomerates over the next two months to drum up support for government policy.
Speaking to reporters on the sidelines of the 22nd ASEAN+3 Finance Ministers and Central Bank Governors Meeting Thursday... Hong said conglomerates should expand investment to overcome the economic woes at hand.
Hong said the government's focus will shift from small and medium sized businesses to large corporations.
The minister's remarks come after data released by the central bank last week, showed the lowest ever quarterly gross domestic product since the 2008 financial crisis.
As for trade, Hong expressed concern that Korean-made cars could become the target of U.S. import tariffs. He said he has delivered these concerns and the ministry is looking into ways to address any emergencies.
His comments follow a meeting between he finance ministers and central bank governors of South Korea, China and Japan, during which they reaffirmed their commitment to resist all forms of trade protectionism.
At their 19th trilateral meeting in Fiji on Thursday,... the financial authorities discussed upholding an open and rule-based multilateral trade and investment system,... as well as accelerating intra-regional trade and investment activities.
The three sides also agreed to further improve communication and coordination.... to contribute to strong, sustainable, balanced and inclusive growth.
The 20th meeting will take place in Incheon, South Korea next May.
Cha Sang-mi, Arirang News.