▲ Ministry of Trade, Industry and Energy building
A dedicated organization will be established within the Ministry of Trade, Industry and Energy to support semiconductor mega projects and strengthen the competitiveness of the semiconductor industry.
The Ministry of Trade, Industry and Energy and the Ministry of the Interior and Safety announced that a partial amendment to the enforcement decree on the organization of the Ministry of Trade, Industry and Energy and its affiliated agencies, which includes the creation of the Semiconductor Innovation Growth Support Team and the India Trade and Cooperation Division, was approved at a Cabinet meeting today (the 13th).
The revision will take effect on the 20th.
The newly launched Semiconductor Innovation Growth Support Team is a director-general-level organization designed to systematically promote semiconductor mega projects and new statutory duties arising from the implementation of the Semiconductor Special Act.
Composed of the Semiconductor Policy Division, Advanced Semiconductor Division, and Semiconductor Ecosystem Division, it will perform functions such as semiconductor policy planning, strengthening advanced semiconductor competitiveness, and supporting the semiconductor industry ecosystem, including materials, components, and equipment.
In particular, it will support the rapid execution of semiconductor mega projects, including the southwestern region semiconductor cluster.
The ministry plans to seamlessly implement new statutory duties such as establishing a basic plan for strengthening semiconductor industry competitiveness under the Semiconductor Special Act, operating a special committee for strengthening semiconductor industry competitiveness, and designating and supporting clusters.
The India Trade and Cooperation Division was established to respond to increased cooperation tasks following the bilateral summit diplomacy in April last year, such as the establishment of the South Korea-India Industrial Cooperation Committee, the resumption of negotiations to improve the Comprehensive Economic Partnership Agreement (CEPA), and energy and resource security cooperation.
The Ministry of Trade, Industry and Energy plans to expand industrial and investment cooperation with India through the India Trade and Cooperation Division.
In addition, it will help South Korean companies enter the Indian market, expand local operations, and resolve difficulties, while also strengthening inter-governmental cooperation channels.
Minister of Trade, Industry and Energy Kim Jeong-gwan stated, "Amid intensifying competition for semiconductor dominance, we will use the Semiconductor Innovation Growth Support Team to back corporate investment and technological innovation, including mega projects, and further solidify our semiconductor competitiveness."
He added, "Centered around the India Trade and Cooperation Division, we will translate the cooperation momentum created during the summit into tangible outcomes for our companies."
(Photo: Yonhap News)
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