(SEOUL = Newsis) Korean firms vowed to expand their investments next year to create more jobs and business opportunities, and the government will actively support companies to fulfill their commitments.

Businesses gathered at the completion ceremony of the FKI Tower in Seoul this week and pledged to discover prospective markets and invest in the research and development (R&D) projects of new industries to develop technologies in a bid to overcome intense competition.

Samsung plans to invest KRW 1.5 trillion in the IT basic science area for the next 10 years to establish the foundation for a creative economy, and it pledged to make a total investment of KRW 500 billion in 2014. SK plans to invest KRW 1.2 trillion in IT-energy fusion R&D projects, including smart grid and energy management systems.

President Park urged businesses to suggest measures of efficient R&D investment by both the government and private sector, and underlined the importance of technologies such as the eco-friendly car, battery, smart grid and new material.

“Korea promised the international community it would reduce its carbon emissions, and technological development is the only way to fulfill that duty without harming industries. We will also be able to discover new markets with new technologies,” said President Park.

Businesses also plan to expand new flexible-schedule, female and family-friendly job opportunities in 2014.

Samsung will train 50,000 people working in software, and Lotte and Doosan will create 2000 and 400 flexible-schedule job opportunities, respectively, in the first half of 2014. Businesses also underscored their efforts to provide a good working environment for employees by improving offices and work procedures.

“The family-friendly job is not as different as the flexible-schedule job. It is to support female workers as they focus on both childcare and work without any difficulties,” said President Park.

Meanwhile, attendants suggested that the government show more concern and provide support for businesses to achieve better results in overseas expansion.

Lee Jun-yong, Honorary Chairman of Daelim Industrial Co., Ltd, called for financial support regarding the government’s initiative to improve overseas construction contracts. Park Yong-man, Chairman of Doosan Corp., asked that Finland, Saudi Arabia, South Africa, Vietnam, Poland and Hungary be taken into consideration when deciding the President’s tour plans, as the countries are currently establishing nuclear power plants.

“Businesses must look beyond the domestic market and take control of the international market. The government will also be required to provide information and use the diplomatic tours as a chance to back up the businesses’ overseas expansion,” said President Park.

“Today’s cars are more sophisticated and known as ‘mobile electronic devices,’ and software systems take up a considerable part of shipbuilding procedures. We need to use the strength of the manufacturing industry to create innovation,” the President added.

Ceremony participants included the Chairman of LG Group Koo Bon-moo, Chairman of Lotte Group Shin Dong-bin, Chairman of Hanjin Group Cho Yang-ho, Chairman of Kumho Asiana Group Park Sam-koo, Honorary Chairman of Daelim Industrial Co., Ltd Lee Jun-yong, Chairman of Dongkuk Steel Group Chang Sae-joo, Chairman of Kolon Group Lee Woong-yeul, Chairman of Eagon Industrial Park Young-ju, Chairman of Samsung Life Insurance Lee Soo-bin and Vice Chairman of Hyundai Motor Kim Yong-hwan.

channa224@newsis.com

Source Text

Source: Newsis (Dec. 17, 2013)

** This article was translated from the Korean.