Industry Minister Ahn Duk-geun has announced a plan to provide 2.7 trillion won in trade finance to support the export of electric equipment, aiming to stimulate the sector as a new driver of growth. During his visit to HD Hyundai Electric Co.'s headquarters in Seongnam, he discussed this initiative and emphasized the need to bolster the electric equipment industry in response to the increasing demand for electricity across various sectors, particularly driven by the expansion of AI services and data centers. To achieve this goal, South Korean businesses and state-run export firms, including Korea Electric Power Corp., Korea Trade-Investment Promotion Agency, and Korea Trade Insurance Corp., will collaborate to promote the electric equipment sector as a new export engine. Minister Ahn also highlighted the government's intention to provide support for other areas within the energy industry, such as energy storage system solutions, as crucial export products. Notably, South Korea's exports of electric equipment reached $15.1 billion in 2023, marking a 9.4 percent increase from the previous year, with the ministry projecting this year's shipment volume to reach $16.2 billion. In summary, Minister Ahn's plan to allocate substantial trade finance for electric equipment exports reflects the government's commitment to nurturing this industry as a key driver of economic growth, with a focus on addressing the escalating demand for electricity and promoting related export products.