Deputy Prime Minister and Minister of Economy and Finance Ku Yun-cheol said on the 22nd, "We will build a great Republic of Korea as one of the top three countries in AI (artificial intelligence), with a potential growth rate of 3%, a global power ranking within the top five, and a virtuous cycle of national development and citizen happiness."
On the same day, Deputy Prime Minister Ku announced the 'New Government Economic Growth Strategy' at the Government of Seoul building, stating, "We will select 30 leading projects in the fields of AI transformation and ultra-innovative economy and immediately launch them in the second half of this year."
Deputy Prime Minister Ku noted, "In the global market, national competitiveness depends on how many first-rate products and services we can create," adding, "The government will set specific ultra-innovation key technology items as goals and mobilize all of the nation's capabilities, including finance, taxation, finance, human resources, location, and regulatory relaxation, to focus on supporting the development of first-rate products and services."
He stated, "Corporations will be at the center, with the government, universities, research institutions, and all citizens pooling their efforts to ensure we achieve visible results in a short period of time," further saying, "Aiming to become the top nation in physical AI, which combines manufacturing and AI, we will promote seven leading projects, including AI robots and AI automobiles."
He continued, "The public sector will introduce AI into all tasks, starting with three leading projects such as AI welfare, AI tax management, and AI new drug reviews," adding, "We will achieve 'AI localization' so that all citizens can learn and utilize AI as easily as they do Korean letters rather than Chinese characters."
Additionally, he stated, "Through innovations in manufacturing processes using AI and transitions to low-carbon and high-value-added industries, we will enhance existing key industries such as petrochemicals, steel, and defense, while fostering regional balanced growth centered on the 30 leading projects by cultivating growth engines in ultra-large regions."
Regarding the people's economy, he said, "We will strengthen fundamental competitiveness for small business owners by developing specialized products, services, and market areas, and alleviate immediate difficulties such as financial burdens," adding, "We will expand the social safety net in areas like basic livelihood security, retirement pensions, and low-income financial support, while alleviating various living cost burdens, such as transportation, communication, and food expenses."
Deputy Prime Minister Ku remarked, "Recently, our economy has been rapidly declining in potential growth rates due to a decrease in the working-age population, investment contraction, and stagnation in productivity, while the actual economy is even falling short of the potential growth rate." He added, "We possess unique strengths that have enabled us to grow from a developing country to a developed country, which is unparalleled in the world."
He further stated, "Now, our competitors are around ten developed countries globally," and added, "To win this competition, we must fundamentally innovate all of our national systems designed for a catch-up economy into a leading ultra-innovation economy model."