Kim Byung-hwan, Deputy Minister of Economy and Finance, "Transferring Digital and Science Technology to Korea's Partner Countries"

2023 KSP Performance Sharing Conference

Kim Byung-hwan, First Vice Minister of the Ministry of Economy and Finance, emphasized on the 11th, “We will further expand support in global innovative technology fields such as digital and science and technology, which are our strengths, to help build the capabilities for innovative growth in partner countries.”

On the same day, Vice Minister Kim attended the ‘2023 Knowledge Sharing Program (KSP) Performance Sharing Conference’ held at the Westin Chosun Hotel in Jung-gu, Seoul, and stated, “We will strengthen advisory services aimed at solving specific issues such as industry and technology development rather than simple policy advice.”

KSP is a program that supports the economic and social development of partner countries by sharing Korea’s economic and social development know-how with the international community. About 300 stakeholders attended this event, including Cho Dong-chul, President of the Korea Development Institute (KDI), Jeffrey Sachs, Professor at Columbia University in the United States, and Richard Damania, Senior Economist at the World Bank.

Kim Byung-hwan, First Vice Minister of the Ministry of Economy and Finance, is delivering the opening remarks at the '2023 Economic Development Experience Sharing Project Performance Sharing Conference' held on the 11th at the Chosun Hotel in Jung-gu, Seoul. Photo by Kang Jin-hyung aymsdream@

Vice Minister Kim explained, “In the new global economic order, a country’s industrial and technological capabilities are increasingly important as they are directly linked not only to the economy but also to security,” adding, “Solidarity and cooperation among countries that share universal values have become even more important to ensure supply chain stability and diversification.” He stressed, “The KSP program must also be developed in a way that allows the Republic of Korea and partner countries to effectively respond together to changes in the economic environment.”

Vice Minister Kim also said, “We will establish a long-term cooperation model rather than one-time support,” and added, “Until now, KSP has been conducted on a one-year cycle, which somewhat limited the diversity and flexibility of the program and made it difficult to provide in-depth advisory services.”

He continued, “Recently, to improve this, we introduced a new KSP-Plus program type that provides in-depth advisory services over two to three years,” and mentioned, “We have introduced the Economic Innovation Partnership Program (EIPP), which supports everything from the initial planning stage of large-scale projects to the preparation of detailed business plans.”

He declared, “We will actively discover projects that are mutually beneficial and complementary to both the Republic of Korea and partner countries,” and added, “Furthermore, through joint consulting with international organizations, we will build an inclusive cooperation network that allows more countries to enjoy these outcomes.”

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