Kim Jung-hwan, President of the KICOX. (Photo: KICOX)

Kim Jung-hwan, a former deputy minister of planning and coordination at the Ministry of Trade, Industry and Energy, took office as the 11th chairman of the Korea Industrial Complex Corporation (KICOX).

Kim held an inauguration ceremony at the headquarters of the KICOX in Daegu Innovation City on March 19 and began his official schedule by visiting industrial sites.

The inauguration ceremony was held online in consideration of the grave public health situation ignited by the spread of the novel coronavirus.

Immediately after the end of the inauguration ceremony, Kim visited the Quarantine Support Center of the Gumi Industrial Complex, examined the complex’s support for quarantine activities at the companies and encouraged employees on the frontline.

“Changes in the industrial structure caused by the acceleration of the 4th industrial revolution, global low growth, and the proliferation of global protectionism are calling on industrial complexes and the KICOX to make changes and play new roles,” Kim said in his inaugural address on the day.

“An industrial complex should be a base for the creation of new industries and innovation in the manufacturing industry, and the KICOX has to transform itself into an industry promotion agency trusted and supported by companies and people.”

To this end, the KICOX clearly vowed to strongly push for revamping industrial complexes, strengthening support for solving economic issues such as manufacturing innovation and job creation and holding the key to addressing difficulties facing those in the industrial field.

The KICOX should newly establish industrial complexes’ functions, centering on industrial promotion and support for companies while serving as a support tower for industrial promotion policies in order to make industrial complexes an advanced base for innovation creation by cooperating with the subjects of various innovation and using national capacities, Kim emphasized.

Kim suggested that the KICOX yield smart industry complexes’ results early in order to cope with the digital economy era and to solve national economic issues such as manufacturing innovation and job creation.

Kim also promoted efforts to advance industrial ecosystems and securing growth engines for companies by implementing a regulatory reform and supporting joint innovation activities among companies.

The KICOX will build its brand as a reliable partner and problem solver for companies by utilizing the strengths of industrial complexes with the closest contact with the industrial field, such as strengthening on-site communications to address companies’ difficulties and providing customized services to jointly design and operate support services with customers, Kim added.

Kim promised to build an organizational culture of communication, cooperation, and integrity while stressing that the KICOX has to be an organization that always listens to the voices of customers, an organization that generates synergies through cooperation and an incorruptible organization trusted and supported by the people.

“Let’s pave the road to innovation and change with a steadfast attitude to achieve our goals,” Kim said, asking KICOX employees to spare no efforts in carrying out quarantine and support activities for industrial complexes and companies housed by them to minimize damage of the spread of the novel coronavirus.

Kim has strong leadership and coordination abilities, his friends and colleagues say. In particular, he has not only vast knowledge of and rich experience in major industries such as semiconductors, displays, automobiles, robots, and shipbuilding but promoting the “smartization” of industrial complexes has been a priority to realizing a renaissance in the manufacturing industry.

Kim is a leading expert in overall industrial policies and has strong planning ability.

The KICOX will advertise for private business operators that will participate in the 2020 Industrial Complex Environmental Improvement Fund to help industrial complexes sharpen their competitiveness and improve their working conditions.

The Industrial Complex Environmental Improvement Fund aims to build facilities necessary for making an environmental improvement at old industrial complexes and upgrading industries by attracting private investment funds based on the government’s contributions.

In the past nine years, 637 billion won in government funds went into 44 projects including knowledge industry centers and studio apartments for laborers, creating a total of 3,373 billion won in new investment.

In 2020, the fund’s investment targets are 32 national industrial complexes including the Seoul Digital, Namdong, and Banwol Sihwa Industrial Complexes and 124 general industrial complexes including the Daegu Seongseo and Busan Sinpyeong Janglim Industrial Complexes.