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| ▲ President Lee Jae Myung speaks during a meeting with manufacturing companies at Saesol Diamond in Ansan, south of Seoul, on Sept. 3, 2025. (Pool photo) (Yonhap) |
(LEAD) Lee-manufacturing industry
(LEAD) Lee pledges support for manufacturing industry
(ATTN: ADDS remarks, details in last 3 paras)
By Kim Eun-jung
SEOUL, Sept. 3 (Yonhap) -- President Lee Jae Myung on Wednesday pledged to expand policy support for the manufacturing industry to help boost economic growth and create jobs.
Lee made the remarks during a meeting with chief executives of small and medium-sized enterprises (SMEs) at Saesol Diamond, a semiconductor tool manufacturer based in Ansan, just south of Seoul.
"The manufacturing industry plays a major role in employment. Small but strong firms and capable manufacturers must continue to grow and develop," Lee said. "Our government is paying keen attention to this and is making efforts to provide support."
He stressed that South Korea faces the dual tasks of recovery and sustainable growth to improve people's livelihoods.
"Many things have been abnormal, and we are in the process of restoring them to normal. We are in a stage of rapid recovery," he added.
During the meeting attended by the ministers of finance, science and ICT, industry and SMEs, executives from 10 manufacturing companies voiced concerns over the rapid rise of Chinese competitors and asked for the government's active support and investment in the transformation of manufacturing using artificial intelligence (AI).
Lee reviewed support measures and urged related ministers to consider additional steps, including the use of a fund of funds, a policy instrument that channels investment into startups, venture firms and SMEs, presidential spokesperson Kang Yu-jung told reporters.
He also addressed fears about potential job losses from the AI transition, stressing that adoption of advanced technologies will also create demand for workers to manage, design and operate systems, as well as generate new types of employment.
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