Seeking a New Path for Progress... Inaugural Academic Event of 'Policy Space for Inclusion and Innovation'

On the 12th at 2 PM in the Sapphire Ballroom Conference Room of Lotte Hotel Seoul

Progressive New Value 'A Better Life', Inclusive Nation 'A Better Republic of Korea' Presented

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] The academic research group ‘Policy Space for Inclusion and Innovation,’ which seeks a new path for progress, is holding an academic event to commemorate its founding.

‘Innovation’ announced that on the 12th at 2 p.m., it will hold the founding academic event of the institute under the theme ‘Korea’s Great Leap Forward ? Finding a New Path for Progress’ at the Sapphire Ballroom of Lotte Hotel Seoul.

The background for establishing this institute started from the fact that economic uncertainty has increased and social inequality and anxiety have worsened due to the COVID-19 pandemic.

Added to this is the environmental crisis, demanding a major societal transformation across the board that has never been experienced since the Great Depression in the early 20th century.

To find the answer to ‘Where should 21st-century Korea head?’ a group of experts from various fields gathered to start discussions, leading to the launch of ‘Policy Space for Inclusion and Innovation.’

The institute seeks sustainable progress not only at the level of individual countries but also in terms of global governance after the COVID-19 crisis.

Progressive scholars and activists who have sought and implemented Korea’s progressive national vision and policies since democratization in 1987, through the Kim Dae-jung, Roh Moo-hyun, and Moon Jae-in administrations, gathered last August to collectively decide to find a new vision and direction for Korea after the COVID-19 crisis.

Through this founding academic event, the institute officially embarks on a journey toward the future of global progress as well as Korea’s.

The founding purpose of the institute is set to propose meaningful mid- to long-term policy alternatives for the nation’s future and citizens’ lives, looking ahead at least a generation of 30 years, rather than the short five-year term of the presidential system.

In a reality where major policy areas such as politics and economy cannot escape the short-term five-year timeframe, the institute plans to present mid- to long-term visions and policy alternatives aligned with the spirit of the times from the perspective of new and better progress.

‘Innovation’ hopes to serve as a public forum that gathers extensive discussions and diverse group opinions to ensure that government policies improve the quality of life for the people.

Seong Kyung-ryung, head of ‘Innovation,’ said in the keynote speech, “A rapid transition to an innovative inclusive state is necessary to find new social development momentum while minimizing ideological confrontation and conflicts among political forces.”

This means simultaneously increasing national inclusiveness through expanded social welfare spending and research and development investment, while promoting educational innovation that fosters creativity and imagination by expanding education investment, aiming to develop into a talent powerhouse that embraces national capabilities.

Seong suggested, “The change toward inclusive progress and innovative progress will be the driving force to make Korean society more integrated and sustainable.”

Park Neung-hoo, planning and operations committee chairman, said in his welcoming remarks, “A group of researchers and activists who prioritize quality of life as a core value, seek a balance between economic and social values, and emphasize the global environment, established a policy space in the summer of 2021 to explore long-term national development strategies and began dialogue.”

The founding academic event consists of five sessions, with free discussions following major presentations in a roundtable format.

The five major areas presenting directions for Korea’s future are: △Economy and society in the post-COVID major transformation (Professors Lim Chae-won of Kyung Hee University, Yang Il-mo of Seoul National University, Kim Ki-bong of Kyonggi University), △Transformative fair growth strategy (Professors Joo Byung-ki of Seoul National University, Ha Joon-kyung of Hanyang University, Ryu Young-jae, CEO of Sustainvest), △New growth strategy in the era of major transformation: Building an integrated model of science, technology, industry, employment, and social policy (Senior Research Fellow Kim Young-soo of the Korea Institute for Industrial Economics & Trade, former President Cho Hwang-hee of the Science and Technology Policy Institute, Professor Jung Dong-il of Sookmyung Women’s University), △Challenges and strategies for a major transformation of the university system and vision and strategy for a culture-leading nation (former President Ban Sang-jin of the Korea Educational Development Institute, former Vice President Cho Ui-su of Silla University, Professor Yang Hyun-mi of Sangmyung University), △How to achieve carbon neutrality (Director Lee Sung-ho of the Energy Transition Policy Institute, Professor Jeon Young-hwan of Hongik University, Seo Jeong-sik of the Renewable Energy Environment Foundation).

Professor Lim Chae-won of Kyung Hee University proposed a new progressive path for the nation and policy after the COVID-19 crisis.

Professor Lim said, “Just as ‘social justice’ was the core value of 20th-century progress, ‘better life’ is proposed as the new progressive value for the 21st century. ‘Better life’ aims for policy goals that focus not only on GDP-centered economic values but also simultaneously consider social and environmental values, emphasizing a healthy and happy life.”

He presents a new complex growth theory as the material condition for ‘better life.’ He proposes the ‘Five Economic Nation-Building Theories,’ concrete policy alternatives for transformative fair growth, based on data and AI, life sciences, green economy, global economy and cultural powerhouse.

Professor Joo Byung-ki of Seoul National University argued, “Transformative fair growth is a national leap strategy that turns the crisis of major transformation into an opportunity for sustainable growth. It establishes the foundation for energy and digital transformation through regulatory rationalization, investment in science and technology, leading industrial policies, and revitalization of capital markets, leading innovative investment in the private sector.”

Professor Joo also proposed the content of transformative fair growth, saying, “We must eradicate the tyranny of the strong such as monopolies and oligopolies to establish a fair market order and create a society where fair income is guaranteed in safe workplaces. We should build an advanced welfare state where the weak can feel secure and establish a transparent public sector that serves the people by eradicating structural collusion and corruption.”

Senior Research Fellow Kim Young-soo of the Korea Institute for Industrial Economics & Trade said, “In a situation where a major transformation of industry and jobs is underway, our growth strategy must be reset. The new growth strategy should be growth based on inclusiveness and sustainability. To this end, industrial and employment policies should not be separated but closely linked to move toward an integrated growth model.”

This growth model presents seven growth engines: nurturing talent in strategic industries and core technology fields, turning cultural content into new growth engines, expanding private investment through regulatory reform, strengthening innovative investment through financial advancement, global growth strategy, raising employment rates through labor market reform, and regional growth engines through fostering mega-cities outside the metropolitan area.

Professor Ban Sang-jin of Jeonbuk National University said, “The major transformation of the university system is a timely educational innovation agenda to reform the extreme university hierarchy, which is a black hole in Korean education issues.”

Professor Ban proposed building an innovative paradigm for the university system by establishing a shared growth-type university alliance system, transitioning to a national responsibility university financial support system, and redesigning the university diagnosis system from pre-support to post-evaluation.

Professor Cho Ui-su of Silla University argued that during the major transformation period, regional universities should lead as innovation capability platforms.

Professor Cho proposed, “During the transition, Korea is facing both regional and university crises simultaneously, but the role of higher education is rather emphasized in the global competitive system. Regional universities should lead innovation in the 4th Industrial Revolution and digital transition era, reorganize the system functionally centered on research, education, and lifelong education by metropolitan area, form governance with local governments and industries based on an innovative university alliance system, and establish a hub for nurturing excellent high-level talent.”

Director Lee Sung-ho of the Energy Transition Policy Institute said, “Carbon neutrality is essential for Korea, an export-driven industrial country, in the global market represented by RE100 and carbon border tax. Fossil fuel use must be minimized, and necessary energy should be supplied by domestic renewable energy.”

Director Lee said, “Since the 2050 carbon neutrality goal and 2030 NDC have been confirmed, concrete plans and budget plans to achieve them must be prepared,” and presented sustainable science and technology policy alternatives.

The comprehensive discussion will discuss directions on important policy agendas currently under discussion but not included in the five major themes.

Topics include ‘The necessity of AI-based future-predictive national governance’ (Jeon Young-il, Director of the Statistics Development Institute), ‘How to prepare for the on-demand economy system?’ (Professor Kim Yong-jin, Sogang University), ‘The necessity of capital markets and ESG’ (Ryu Young-jae, CEO of Sustainvest), ‘Major transformation and leap’ (Professor Lim Seung-bin, Myongji University), ‘Governance reform for real estate and balanced development’ (Professor Jung Sung-hoon, Daegu Catholic University), ‘Fair growth and entrepreneurship’ (Professor Kim Ki-chan, Catholic University), and the direction of ‘Future youth policy’ (Im Yoo-jin, head of the Youth TF, Seba Foundation).

Through this founding academic event, the institute seeks a new path for Korea to turn the ‘COVID-19 crisis into an opportunity for major transformation,’ creating a new growth momentum and a ‘better Korea’ where citizens’ lives improve.

Since democratization in 1987, amid the serious risk situation of the COVID-19 crisis, the institute has taken its first step in presenting the philosophy, values, and policy alternatives of Korea’s progress.

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