Hankyung Research Institute: "Korea Lacks AI and Robot Sectors... Regulatory Easing Needed in New Industries"
"Establish Institutional Foundations for Companies in New Growth Sectors to Thrive"
[Asia Economy Reporter Park Sun-mi] Although Korean companies won the most Innovation Awards at the world's largest home appliance and IT exhibition 'CES 2022,' they showed weakness in new industry sectors such as artificial intelligence (AI) and robotics, raising calls for deregulation.
On the 31st, the Korea Economic Research Institute stated in its recently published report "Analysis of 55 Years of CES Technology Trends and Implications" that the global technology trends that attracted attention at CES from 2010 to 2022 can be classified into four categories: smart devices, AI, robotics, device connectivity, and ESG. It pointed out that although Korea won the most Innovation Awards ever at CES 2022, more than half were in the smart device sector, showing weakness in the AI, robotics, and ESG sectors, which have recently emerged as new industries.
This year, Korea set a record for the most Innovation Awards, increasing from 65 in 2018 to 139 this year, more than doubling. When the awards this year are classified by technology trends, the order is smart devices (52.9%), device connectivity (16.3%), AI and robotics (11.1%), ESG (7.2%), and others (12.5%).
Lee Gyu-seok, a senior researcher at the Korea Economic Research Institute, said, "Although Korea achieved the greatest results, we cannot be complacent because the proportion of new industry sectors directly linked to future growth in the Fourth Industrial Revolution era is low," adding, "Since the country's future growth depends on new industries, falling behind in innovation limits national growth."
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He continued, "For Korean companies to continue innovating, regulations on new industry sectors must be eased in line with the pace of technological advancement and industrial realities," emphasizing, "To this end, regulations should shift from a positive to a negative system, and an institutional foundation should be established to allow companies in new growth sectors to thrive."
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