Gov't vows financial support to minimize fallout of Japan trade curbs, boost competitiveness

민관정 '日규제 대응' 논의…"정부, 관련예산 충분히 반영해야"Seoul's government will make sure to provide stable funding for the local parts and materials industries to help cope with Japan's trade curbs.That's coming from the nation's finance chief following a meeting of a consultation body between the rival political parties, the government and the private sector.Hong Nam-ki emphasized that the government is doing all it can to minimize the fallout on local firms and to provide immediate financial support.He vowed to use this as an opportunity to boost the self-reliance of local industries,... as well as foster an ecosystem in which both small and big companies can prosper.To do that,... the government is thinking of setting aside a budget worth roughly 2 billion U.S. dollars for the parts and materials industries.The minister said all parties agreed to play their respective roles: the private sector to encourage companies to invest and develop technologies,... rival lawmakers to pass the necessary bills,... and for the government to provide financial support.