Minister Sung Yun-mo of the Ministry of Trade, Industry and Energy delivers a commemorative speech at a ceremony to market the 9th anniversary of Display Day. (Photos:MOTIE)

New Minister Sung Yun-mo of the Ministry of Trade, Industry and Energy (MOTIE) said, “(The ministry) will work toward industry, trade and energy policies to create good jobs and to spur innovation-driven economic growth.”

MOTIE Minister Sung made the remarks at his inaugural speech as he took office at the ministry at the Sejong Government Complex on Sept. 27. “Roles of our ministry responsible for the real economy are more important than any time at this juncture when changes and innovation of the whole of industries are badly needed,” he said.

Minister Sung stressed the need for enhancing productivity by transforming the nation’s industries from quantitative growth focusing on inputs to a qualitative growth.

He said his ministry will concentrate all capabilities on innovative growth in both mainstay and new industries.

The ministry will eliminate stumbling blocks to growth so that corporate life of founding, growth, maturity and restructuring can work in a dynamic fashion and provide support so that SMEs and mid-size enterprises can become an axis of the Korean economy by making up for market failures, Sung said.

He noted the MOTIE will max out national innovative capabilities by connecting such innovation leaders as the government, companies, universities and research institutes in an organic fashion.

Energy Efficiency Strategy

Minister Sung said at the New Energy Business Dialogue at COEX on Oct. 5 the ministry plans to establish national energy efficiency innovation strategies designed to innovate energy consumption structure and create new industries this year.

KEPCO President Kim Jong-kap told the forum that his company is trying to transform the a power supplier into a comprehensive energy solution company.

He predicted the expanding of new energy markets by converging with technologies such as AI, Iot and big data.

Vice Minister-Level Reshuffle

MOTIE Vice Chung Seung-il / 1st Vice Minister Cho Hyun of the Ministry of Foreign Affairs / 2nd Vice Minister Lee Tae-ho of the Ministry of Foreign Affairs

KIPO Commissioner Park won-joo / Chancellor Cho Se-young of the Korea National Diplomacy Academy

President Moon Jae-in carried out a reshuffle, replacing five vice minister-level government officials on Sept. 27.

President Chung Seung-il of Korea Gas Corp. was appointed to be MOTIE vice minister, while Deputy Minister Park Won-joo of the Office of Energy and Resources at the MOTIE was tapped as commissioner of the Korean Intellectual Property Office (KIPO).

President Moon appointed 2nd Vice Minister Cho Hyun of the Ministry of Foreign Affairs to be 1st vice minister of the ministry while Lee Tae-ho, presidential trade secretary, was named as 2nd vice minister of the ministry. Prof. Cho Se-young of Dongseo University was appointed to be chancellor of the Korea National Diplomacy Academy.

The latest reshuffle drew attention as first and second vice ministers of the Ministry of Foreign Affairs were replaced simultaneously, and the revision of the Korea-U.S. Free Trade Agreement was signed. MOTIE Vice Minister Chung is a graduate of Jinju High School and Seoul National University Business Administration Department.

He held major MOTIE positions such as director general in charge of free trade agreement policy, deputy minister in charge of trade and investment, and deputy minister of the Office of Energy and Resources.

KIPO Commissioner Park is a seasoned MOTIE bureaucrat who held such positions as deputy minister in charge of planning and coordination, deputy minister in charge of industry policy and presidential secretary of industry, trade and energy.