[Interview] Vice Chairman Lee Geun... 'Futurist Teacher' Who Presented the Foundation for the Digital New Deal

Published 09 Apr.2021 11:12(KST)

Updated 09 Apr.2021 11:13(KST)

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Renowned as the Author of Digital Society 2.0
Highlights Korea's Strength in Manufacturing-Digital Platform Coexistence

Lee Geun, Vice Chairman of the National Economic Advisory Council, is being interviewed at the National Economic Advisory Council in Jongno-gu, Seoul, on the 1st. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Eunbyeol Kim] Lee Geun, Vice Chairman of the National Economic Advisory Council, is known among members of the National Assembly as a futurism teacher. Although he majored in economics, he stands out in fields requiring macro insights such as innovation and digital technology. In particular, the book Digital Society 2.0, published in 2019 with several experts during his tenure as a member of the National Economic Advisory Council, has received much praise. He is also the creator of the term "Digital Society 2.0," which is the title of the book.

In an interview, Vice Chairman Lee expressed pride, saying, "This book laid the foundation for the current government's policy direction of the Digital New Deal."

Vice Chairman Lee is confident that the digital society will eventually spread to all sectors. He said, "Digital Society 1.0 was centered on high-speed internet infrastructure, and 2.0 is the stage of digital infrastructure expansion," adding, "If remote education and medical services through digital systems had been implemented earlier, the impact of COVID-19 would have been less severe." When asked if there will be a 3.0 stage, he replied, "We have started a project on the future development strategy of the Korean economy," and stated, "By the end of this year, we will prepare ideas that the next government may need, including the harmony of growth and welfare, strategies for the re-growth of Korean companies, and environmental changes."

In the economics community, there was considerable surprise when Vice Chairman Lee was appointed due to his moderate political stance. Although the current government's term has about one year left, it appears he was selected to set the long-term direction for the Korean economy. The Advisory Council is a constitutional body that advises the president on economic policy, with the president serving as its chairperson. Vice Chairman Lee is the de facto head of the council.

He views Korea's strength as the coexistence of traditional large manufacturing companies and emerging digital platforms such as Naver and Kakao, and believes that opportunities will arise as the global order is reshaped after COVID-19.

However, he assessed that "reliance on advanced technologies from the U.S. and Japan, and markets from China, is a weakness." He also added, "Government policies have made it difficult for small and medium enterprises, ironically deepening large corporations' dominance in growth; asset market concentration and the K-shaped recovery are weaknesses and threats." The government policies he referred to include the 52-hour workweek and the rapid increase in the minimum wage.