Materials: Equipment and Companies

materials: We want to turn the crisis into an opportunity for the materials, parts and equipment industry, Sung said, according to The Japan Times. The government said in a statement it wants to address structural weakness in South Korea's materials, parts and equipment sector, which heavily depends on a particular country. Trade minister Sung Yun-mo said the government would also financially support South Korean companies in mergers and acquisitions of foreign companies and expand tax benefits to lure more international investment, while easing labor and environmental regulations so local companies can boost production. ; South Korea plans to raise self-sufficiency for 100 key components, materials and equipment items used to make chips, displays, batteries, automobiles and other products, with a goal to stabilize supply over the next five years. South Korean President Moon Jae-in stressed the need to promote economic growth to counter Japan's trade controls. Japan can never block the leap of our economy, he said, adding that Tokyo's new clamp on exports will instead serve as a catalyst for South Koreans' resolve to build economic power. He said the peace economy is a way for South Korea to catch up with Japan economically. (news.financializer.com). As reported in the news.