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Localization drive

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Substituting imports with domestic products is easier said than done

Korea's top economic policymaker has expressed determination to localize essential materials, parts and equipment as soon as possible.

"To cope with Japan's export restrictions, the government will work out measures to strengthen the competitiveness of key materials, parts and equipment this month, and give speed to their localization," Minister of Economy and Finance Hong Nam-ki said Thursday.

Successive Korean governments have pushed for localizing such core items since the 1980s, but failed to........

© The Korea Times