'Insight into How to Make Korea an Industrial Power'

NACF to split into economic and finance units with 30 pct of capital allocated to economic division of operation

Rep. Kim Jae-kyung, Grand National Party leader of the National Assembly Knowledge Economy Committee, recently published a book titled "The Way Toward an Industrial Powerhouse,"which he said was designed to give insight into what the preconditions are for helping the Korean economy join the ranks of advanced countries and to explore the answers.
The following are excerpts of an interview between NewsWorld and Rep. Kim, who touched on his parliamentary activities to provide support to SMEs as well as his political tenets.

Question: What is the significance and purpose of your publication of the book "The Way Toward an Industrial Powerhouse"
Answer: The publication of the book was designed to give insight into what the preconditions are for helping the Korean economy join the ranks of advanced countries and to explore the answers.
The purpose of the publication is to share with people my thoughts and assertions that the political community should fare well to make the nation a full-fledged industrial power and the nation should brace itself for future growth.

Q: Will you tell our readers about parliamentary activities you have conducted as a representative of the National Assembly Knowledge Economy Committee with regard to strategies to nurture industry?
A: We'e focusing on the legislation of bills designed to provide support to SMEs and low-income merchants. A revision bill on the Act on the Provision of Support to SME Start-ups calling for laying a legal foundation for assisting an entrepreneurship foundation and other bills, which were proposed by our committee, are on the verge of approval.
The committee is also attaching priority on exploring ways to yield R&D outcomes and secure future growth engines. We're devoting ourselves to excavating policies and systems designed to strengthen the competitiveness of SMEs, which are suffering from the effects of ever-worsening bi-polarization, particularly targeting low-income merchants.

Q: Will you comment on the issue of raising electricity charges?
A: Korea is charged with the lowest electricity fees among OECD countries, but the nation offers the most excellent quality. Of late, Korea is faced with emergency cases of a lack of reserve power caused by a surge in power consumption. Experts cite the necessity for raising electricity charges in order to restrain energy consumption and lessen the pressure for the expansion of power production facilities.
In this regard, the government and Korea Electric Power Corp. (KEPCO) are weighing the issue of raising electricity charges so that production costs can be made up for.
But the issue of raising electricity charges will have to be dealt with in a cautious fashion, given the reality that price hikes caused by the recent unrest in the Middle East have emerged as an urgent pending task.

Q: Will you elaborate on parliamentary activities you have conducted for regional development as a lawmaker hailing from the electoral district of Jinju?
A: The Gyeongnam Innovation City will be dedicated by the end of 2012 to accommodate 12 public organizations moving from the Seoul metropolitan area. It's redoubling a bid to create projects conducive to regional development following the relocation of the public entities. A master plan for the development of the aviation industry and regional specialization strategies have been established in the Jinju/Sacheon area, which accounts for a 60 percent share of the Korean aviation industry.
I plan to put my heart and soul into the development of the domestic aviation industry, as the government is considering a feasibility study for producing mid-sized civilian aircraft. I also strive to devote myself to building infrastructure for supporting high-tech molding for the development of aviation and wind power industries and a foundation for the development of the ceramic industry.

Q: Will you explain your political convictions?
A: I love reading the prestigious Chinese scholar Lao Tze's Tao Te Ching. I always bear in mind the phrase of the book which reads that water always flows into lower places, meaning that politicians are advised to make themselves humble. I also try to abide by a verse emphasizing that politics should be based on a belief in naturalness and minimal roles. nw





Rep. Kim's book,
"The Way Toward an Industrial Powerhouse"













Rep. Kim Jae-kyung, Grand National Party leader of the National Assembly Knowledge Economy Committee
- Photo by courtesy of Rep. Kim jae-kyung's office