Deputy PM promises measures to reinvigorate e-commerce

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Deputy PM promises measures to reinvigorate e-commerce

“The government will devise measures to revitalize electronic commerce within next month in order to pioneer the overseas market and facilitate foreign investment.”
The remark was made by South Korea’s Deputy Prime Minister and Finance Minister Hyun Oh-seok at a meeting with economic ministers held at the government complex Thursday. Mr Hyun added, “amid lackluster domestic economy, we cannot paint a rosy picture about industrial competitiveness.”
Minister Hyun noted, “the government will spur efforts to attract high value-added foreign investment including research & development (R&D) center, global headquarters, and companies that shut down overseas offices to return to Korea.”
He also unveiled plans to protect confidential information that are tailored to mid to small-sized businesses and established companies.
“[The government] will relieve affected companies’ burden on proving confidential information breach and toughen responsibility for damages in case of confidential information leak by revising the relevant laws.
As for the government’s plan to fix public firms’ lax management, Hyun said, “most public firms disappointingly fall short of our expectations in terms of accuracy and reliability when it came to public disclosures,” adding “the government will issue stern warnings to the heads of companies involved while those in charge of the matter will face disadvantages in promotion.”
As for the Sewol calamity, Hyun stressed, “we’ll continue to step up efforts to provide assistance for businesses hit by the disaster including restaurants and lodging businesses.” MK News, May 22^nd, 2014