US Think Tank "Bio and AI Collaboration... Strengthening Synergy"

Robert Atkinson, chairman of the U.S. think tank Information Technology and Innovation Foundation (ITIF), stated on the 12th that synergy should be created through cooperation between South Korea and the United States in advanced industries.

Robert Atkinson, Chairman of the Information Technology and Innovation Foundation (ITIF) in the United States, is delivering the keynote speech at the "Korea-US Cooperation Seminar for Global Advanced Technology Leadership" held on the 12th at the FKI Tower Conference Center.
[Photo by Hankyung Business Association]

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On the morning of the same day, Chairman Atkinson discussed ways to expand Korea-U.S. synergy in the fields of artificial intelligence (AI) and biotechnology at the "Korea-U.S. Cooperation Seminar for Global Advanced Technology Leadership" hosted by the Korea Economic Association at the FKI Tower in Yeouido, Seoul.

Chairman Atkinson introduced the U.S. foreign policy after the presidential election and presented tasks that South Korea should prepare for future cooperation. He predicted that if President Joe Biden is re-elected, a "green redistribution" policy including increased investment in clean energy will be pursued, and export control targets will be gradually expanded. In the event of former President Donald Trump's return to power, he expected tariff increases on allied countries under a "small government protectionism" policy.

He suggested that South Korea should actively promote its achievements in establishing factories in the U.S. and creating blue-collar jobs. He also emphasized the need to establish global standard policies that guarantee free business activities.

He proposed that the two countries could cooperate in areas such as semiconductors, quantum computing, smart cities, robotics, nuclear power, shipbuilding, and smart manufacturing.

Kim Chang-beom, Vice Chairman of the Federation of Korean Industries, is delivering a greeting at the 'Korea-US Cooperation Seminar for Global Advanced Technology Leadership' held on the 12th at the FKI Tower Conference Center.
[Photo by Hankyung]

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During the keynote presentations, voices called for cooperation in the bio and AI sectors.

Steven Etzel, ITIF Vice President, pointed out that although South Korea has potential in the bio industry, it has not produced visible results.

According to Vice President Etzel, as of 2022, South Korea ranked fourth globally in the number of preclinical drug candidates in development. It ranked third in the number of most-cited biotechnology papers worldwide over the past decade. However, in the Hamilton Index developed by ITIF, the pharmaceutical sector's performance was among the lowest last year among 10 advanced industries. The Hamilton Index aggregates each country's contribution to the global value added of 10 advanced industries.

Vice President Etzel proposed resolving dependence on active pharmaceutical ingredients, which are dominated by China and India, through Korea-U.S. joint development. He advocated expanding "friend-shoring," the establishment of supply chains centered on allied countries.

There was also a suggestion to jointly establish an AI research and development (R&D) center. Senior Research Fellow Song Chi-woong of the Science and Technology Policy Institute explained that the AI research capabilities of both countries are among the world's best. In 2022, the number of AI research publications was first in the U.S. (1,811) and second in South Korea (890). The cumulative number of AI patents from 2015 to 2022 was also first in the U.S. (9,292) and second in South Korea (7,380).

Senior Research Fellow Song proposed, "The two countries, at the forefront of AI research, should become the main pillars of global AI R&D," and suggested establishing an "AI Multilateral Research Center" by gathering major friendly countries that share values under the leadership of both countries.

Kim Chang-beom, Executive Vice Chairman of the Korea Economic Association, said, "It is necessary to actively utilize the situation where Korea-U.S. relations have expanded beyond a simple security alliance to a strategic economic and technological partnership," adding, "If the U.S., which has strengths in fundamental technologies, and South Korea, which excels in advanced manufacturing, cooperate, it will create tremendous synergy."

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