Jung Sye-kyun: "The Korean New Deal is a National Strategy... Different Level from 'Creative Economy'"

Prime Minister Chung Sye-kyun is attending the government questioning session on diplomacy, unification, and security held at the National Assembly plenary session on the 15th, responding to questions from lawmakers. Photo by Yoon Dong-ju doso7@

[Asia Economy Reporter Kang Nahum] Prime Minister Chung Sye-kyun on the 16th explained the difference between the Korean New Deal promoted by the current government and the Creative Economy initiative pursued during the Park Geun-hye administration, saying, "While the Creative Economy was an industry-level strategy, the Korean New Deal is a national strategy. It is an approach on a different level."

Prime Minister Chung made this remark in response to a question from Yang Hyang-ja, a member of the Democratic Party of Korea, during the National Assembly's economic sector government questioning session, asking about the difference between the Creative Economy and the Korean New Deal.

He explained, "As I understand it, the Creative Economy was an industrial strategy level vision to foster new industries for future industries," adding, "On the other hand, the Korean New Deal goes beyond that, contributing to economic revitalization and can be described as a national transformation strategy for the Republic of Korea."

Regarding the success of the Creative Economy, Prime Minister Chung evaluated, "It was not successful at all," and said, "I believe the start was right, but the execution was insufficient and the enthusiasm was lacking."

When Representative Yang pointed out, "I think the reason the Creative Economy failed is because it was government-led. The Digital New Deal centers on AI, but the government's role in the AI field should be limited to that of a supporter," Prime Minister Chung responded, "Of course, the government should play a supporting role. The players are the companies," adding, "That does not mean the government has nothing to do. It is important to organize laws and systems, and if necessary, significantly ease regulations to create an environment where companies can operate freely."

This content was produced with the assistance of AI translation services.