The Ministry of Trade, Industry and Energy announced on the 24th that it held the 47th Business Restructuring Plan Review Committee in writing and approved the business restructuring plans of eight corporations, including SJ Autotech, Daewon FNC, and Beaks.
The ministry plans to invest 78.3 billion won in the approved corporations over the next five years. These corporations will create 169 new jobs and enter new business sectors.
Specifically, SJ Autotech, an automotive parts company, will enter the electric vehicle battery sensing block market, while Daewon FNC will localize conductive ceramic materials with electrostatic control capabilities required in semiconductor processes. Beaks will produce eco-friendly eco-poliol, which replaces some petroleum-based raw materials (about 30%) with recycled carbon dioxide (CO2). Seojin Industry is developing a battery case using the cell-to-pack method that omits the module in the cell-module-pack battery structure to actively respond to the changing market.
Chairman Kim Joo-hoon noted, "Corporations are increasingly hopeful about the innovative government policies since the new administration has launched, and the business restructuring system needs to enhance support for corporations to meet this aspiration."
First Vice Minister Moon Shin-hak also stated, "The core vision of the new government is 'growth,' and in order to overcome the economic crisis currently facing our country, the corporations, which are the center of the economy, will be encouraged to pursue innovative and proactive business restructuring, and we will continuously improve the business restructuring system."