Acting Prime Minister Han Duck-soo said on the 29th, "We will establish an additional global plant, construction, and smart city fund worth 1.1 trillion won to strengthen government-level policy financing support."
Acting Prime Minister Han attended the "Overseas Construction $1 trillion orders and 60th anniversary ceremony" held at the Construction Hall in Gangnam, Seoul, and noted, "We will further enhance our comprehensive support system centered around Team Korea, a public-private overseas project support group."
He said, "We will broadly establish a government-level diplomatic network targeting not only strategic countries in Asia, the Middle East, and Europe but also emerging markets such as Latin America." He added, "We will expand investment development projects to secure orders that can achieve qualitative growth centered on high added value, as well as quantitative growth in overseas construction."
Acting Prime Minister Han stated, "We will focus on supporting our strength in infrastructure strategic industries such as smart cities, urban development, and railroads," and added, "We will vigorously support the recovery of the domestic construction market."
He also mentioned, "To alleviate the burden on corporations due to the surge in material and labor costs, we will rapidly promote the rationalization of construction costs," and noted, "By activating private sector projects and expediting the budget execution for social overhead capital (SOC), we will serve as a catalyst for economic recovery." He also said, "We will continue to expand regional development projects such as national industrial complexes and underground railroads to stimulate local investment."
He emphasized, "Whenever our country faced an economic crisis and the country was on the verge of default due to a lack of dollars abroad, our overseas construction has been a savior to overcome the economic crisis." Acting Prime Minister Han noted, "Starting with the Thailand highway project in 1965, we have carried out over 16,000 projects in 165 countries, achieving a historic record of $1 trillion in orders."
He remarked, "This is the third achievement after the semiconductor and automotive industries, showcasing the global status of our construction industry," and added, "It has greatly contributed to our current account surplus and serves as a strong pillar for our economy."
Acting Prime Minister Han expressed, "When I first entered public office in 1970, our country's total exports were only $800 million, and at that time, $1 trillion was a number that couldn't even be imagined," and added, "You, construction professionals, have accomplished an incredible feat."