Ministry of Trade, Industry and Energy & KAIST Publish Book Proposing 'Resilient Growth' for Korean Industry
[Asia Economy Reporter Haeyoung Kwon] The Ministry of Trade, Industry and Energy and KAIST have compiled suggestions in a book to overcome the 'Black Tide' crisis that swept the world due to COVID-19 and to advance Korean industry into the future.
According to the Ministry of Trade, Industry and Energy on the 8th, Kim Wonjun (lead author), professors from KAIST Graduate School of Technology Management, and staff from the Ministry's Energy Resources Office recently published a book titled "Resilient Growth" containing these insights.
The author diagnoses that the world is facing an era of Black Tide, where crises are becoming massive, complex, and normalized. Black Tide means that before one disaster ends, another disaster comes in waves, sequentially and simultaneously.
Composed of two parts and four chapters, the book explores in Part 1 the meaning of Black Tide and resilient growth, and the growth momentum we must have; in Part 2, it fundamentally examines the vulnerabilities of Korea's energy system and the direction to move forward.
The author emphasizes that in the crisis situation called Black Tide, it is important to secure new growth momentum, restructure the system, and not only recover but also create a foothold for growth. While the existing concept of 'resilience' covers minimizing damage from external shocks and achieving rapid recovery, the 'resilient growth' proposed by the author is a more proactive concept that includes achieving a leap beyond recovery.
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Furthermore, energy is the sector most affected by the Black Tide, and restoring resilient growth in the energy sector will determine Korea's growth for the next half-century. The book also contains reflections and policy proposals on what must be done to transition from fossil fuels such as oil to a net-zero (carbon-neutral) society based on renewable and distributed energy.
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