S. Korea to foster new growth engines for exports including rechargeable batteries

Arirang News 2019-04-29

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정부, 소비재•바이오•2차전지 등 신수출성장동력 지원

While Korea continues to suffer from slowing exports,... a special team headed by the trade ministry put their heads together for the second time today... since its launch in Ferbruary.
As part of efforts to find new growth engines in the nation's exports,... the team layed out plans to further accelerate several industries, including rechargeable batteries.
Kim Da-mi has the details.
The Export Trade Response Team,... headed by the minister for trade,... discussed ways to foster new growth engines as well as investing some 2-hundred and seventy-eight million U.S. dollars to boost sluggish exports.
It said it will focus on investing the extra budget on financially assisting local exporters as well as helping the firms' marketing programs.
In particular, it said it would focus on fostering new growth engines for exports, including rechargeable batteries, biotechnology and consumer goods.
Exports of rechargeable batteries increased by 12 percent on-year in the first quarter of 2019,...thanks to higher demand for lithium-ion batteries for electric cars.
In order to support reusable batteries as a newly emerging export item, the industry ministry introduced plans for developing core technologies and R&D projects on its commercialization.
Next month the ministry will announce detailed measures to further expand the consumer goods exports,... which took up almost 5 percent of the country's total exports last year. These measures will include using the popularity of the Korean Wave Hallyu to market consumer goods.
Kim Da-mi, Arirang News.

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