Lee Jae-myung: "Introducing the 'Korean-style Human Capital' System... Training 1 Million Digital Talents"

Lee, on the 11th at the Digital Transformation Committee: "Train 1 Million Digital Future Talents with 200,000 Annually"
Advance Digital Education Costs, Partial Repayment After Employment
Expand Software Education to at Least 1 Hour Weekly in Elementary to High Schools
Invest 3% of Annual Budget in Digital Transformation... Total Investment Over 135 Trillion Won

[Asia Economy Reporter Oh Ju-yeon] Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, announced on the 11th that he will introduce the 'Korean-style Human Capital System (tentative name)' to nurture 1 million digital future talents. He also pledged to boldly invest 3% of the annual budget, totaling more than 135 trillion won, in the digital transformation.

Photo provided by the live YouTube broadcast screen capture of the Democratic Party of Korea Digital and Innovation Great Transformation Committee Policy No. 1 Announcement Meeting

On the afternoon of the same day, candidate Lee said at the 'Digital and Innovation Grand Transformation Committee' Policy No. 1 announcement held at KBIZ Hall, Basement 1, Korea Federation of SMEs Building in Yeouido, Seoul, "We will nurture a total of 1 million people at a rate of 200,000 per year."

Candidate Lee announced that he will introduce the Human Capital System to cultivate digital talents. The Human Capital System is characterized by a 'income-sharing' model where the government provides upfront support for education expenses to enhance digital capabilities such as software (SW) and artificial intelligence (AI), and some of the costs are repaid after employment.

Candidate Lee expressed his expectation that "it will be a high-quality, company-customized education and training program that enables immediate employment after completing the training process."

Along with this, he promised to expand SW-centered universities and contract departments, increase SW education in elementary, middle, and high schools to at least once a week, expand specialized military service in SW and AI fields, and broaden digital education nationwide. He also added that 50,000 jobs will be created as digital mentors, managers, and tutors.

He also presented a blueprint for a 'Metaverse Government (Meta Government).' Candidate Lee said, "We will move beyond a one-way digital government to a metaverse government based on public-private collaboration and private sector participation."

He emphasized that he will open the era of digital grand transformation with bold investments totaling more than 135 trillion won, including 85 trillion won in national finances.

Candidate Lee said, "We will invest 3% of the annual budget in digital transformation," adding, "The Lee Jae-myung administration will invest a total of 85 trillion won in national finances: 30 trillion won for physical, institutional, and infrastructure investments; 40 trillion won for digital transformation of traditional industries, expansion of new industry territories, and support for startup growth; and 15 trillion won to guarantee digital sovereignty." He continued, "Local governments will also make about 20 trillion won in responsive investments to prepare for digital transformation, and the private sector will be led to invest more than 30 trillion won."

Photo by The Democratic Party of Korea Digital·Innovation Great Transformation Committee Policy No.1 Announcement Live Broadcast YouTube Screen Capture

At the announcement, Park Young-sun, former minister and chairperson of the Democratic Party's presidential campaign committee's Digital and Innovation Committee, also attended the site and entered as an avatar in the metaverse to have candid conversations with game software developers together with candidate Lee. In addition, there was a Q&A session with coding education students in the metaverse regarding government support measures.

Former Minister Park said, "The Lee Jae-myung administration will be a digital talent incubator, and the 1 million people nurtured here will be the main players leading the future meta economy."

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