ARIRANG NEWS 16:00
Thanks for tuning in. This is Arirang News. Live from Seoul, I′m Hwang Ji-hye.
Title: Korea′s economy ministries present action plans to President Park
Korea′s economy-related agencies presented their action plans for this year to President Park Geun-hye.
Their pledge: To support the country′s SMEs and start-ups with needed funds and so-called creative economy centers.
Song Ji-sun has the details.
"Innovation" and "entrepreneurship" are the keywords for 2015.
Five government ministries and organizations in charge of science, technologies and industries put together a blueprint on Thursday to turn Korea into a "vibrant creative economy."
The Ministry of Science, ICT and Future Planning, the Trade Ministry, the Small and Medium Business Administration and the nation′s finance and communications regulators... all vowed to follow up with action plans to promote entrepreneurship needed to turn ideas into businesses.
"We′ll create a dynamic economy, where creativity thrives and new businesses are born and grow. The first step is to set up an organic ecosystem conducive to an innovative economy."
One of the government′s top projects this year... is setting up "Innovative Creative Economy Centers" in 17 industrial sites by June.
Each center will specialize in one specific industry based on the strength and characteristics of the local area.
One-stop services will be provided at these centers for start-ups seeking funds, partners, distribution channels and clients.
Seoul is also seeking to make better use of its free trade agreements with other countries... to boost growth.
The government wants to help companies, especially small and medium-sized businesses, make better use of recently agreed free trade deals,... and in particular... the one with China.
Seoul will launch a consolidated information platform and set up a China desk a one-stop service for exporters seeking advice on expanding their outbound shipments.
The government is aiming to log 600 billion dollars in exports and attract 20-billion dollars in foreign direct investment this year... to become an FTA hub and business center for the East Asia region.
"The government is vowing to make collaborative efforts across its ministries so that the Korean economy can take another leap forward this year. If things work out as policymakers plan, ordinary Koreans will feel... their society is more innovative and their lives are getting better by the end of this year."
Song Ji-sun, Arirang News."
Title: Gov′t to inject 100 trililon won into fostering new growth engines
Also included in the plan laid out by the government... is an injection of 100 trillion won, or 92 billion U.S. dollars, for this year,... aimed at fostering new growth engines.
Our Lee Ji-yoon has more.
A total of 166 billion dollars will be poured into establishing a so-called "vibrant creative economy" this year.
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