Lee Jae-myung "Export 1 Trillion Dollars, Leap to Global Top 5 Powers"

Lee Jae-myung Announces '10 Major Strategies for the New Economy'

[Asia Economy Reporters Oh Ju-yeon and Lee Myung-hwan] Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, announced the '10 New Economy Strategies' on the 1st, stating, "The core goal of the integrated government's new economic strategy is to leap from a follower country to a leading country, achieving $1 trillion in exports and becoming one of the world's top five economic powers."

[Image source=Yonhap News]

On the same day, Lee gave a special lecture titled "Economic President 2: A Country Good for Investment" at the candidate invitation economic dialogue held at the Conrad Hotel Grand Ballroom in Yeouido, co-hosted by the German Chamber of Commerce in Korea and the French Chamber of Commerce in Korea. He announced the 10 New Economy Strategies, which embody the economic policy direction of the integrated government.

Lee emphasized, "The greatest mission of the next president is to become an 'economic president,' turning the crisis of a major transition period into an opportunity and revitalizing the economy, which has been struggling due to COVID-19, as the highest priority task of the next government's national administration." He added, "We need an economic president who leads as a leading country, contributing not only to the revival of the Korean economy but also to the global economy."

Despite the COVID-19 crisis, foreign investment has recorded over $20 billion annually for the past five consecutive years, reaching a record high of $29.5 billion last year.

Lee said, "First, we will create growth and jobs through industrial innovation," adding, "To advance as a manufacturing powerhouse, we will establish an innovation-led industrial structure, build Big 10 industrial projects leading future new industries, and create a super cluster connecting semiconductors, future mobility, and more."

He also emphasized, "We will accelerate innovation in regulatory areas through five new industry projects including robotics, green energy, and metaverse, and strengthen manufacturing competitiveness with Materials, Parts, and Equipment (SoBuJang) 3.0." He explained that efforts will focus on strengthening R&D personnel to nurture global top SoBuJang companies and root industries, establishing a control tower for supply chain stability, and managing key items.

Continuing, he said, "We will prepare for new industry growth through digital transformation," stating, "We will enhance development and support for digital transformation, including five new industries such as cloud AI, cybersecurity, blockchain, and supercomputing."

Alongside this, he promised to build an energy highway, foster ten projects in the science and energy sectors, cultivate future talents, and prepare for the KOSPI 5000 era.

Attendees at the economic dialogue included Park Hyun-nam, Chairman of the German Chamber of Commerce in Korea (Head of Deutsche Bank Seoul Branch), David Pierre Jalicon, Chairman of the French Chamber of Commerce in Korea, Rowan Pets, Representative of the Australian Chamber of Commerce in Korea, Ranta Heikki, Chairman of the Finnish Chamber of Commerce in Korea, Philippe Lefort, French Ambassador to Korea, Maria Castillo Fernandez, EU Ambassador to Korea, Peter Bingler, Deputy Head of German Economic Affairs in Korea, and Russell Wild, Deputy Head of Australian Economic Affairs in Korea.

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