Independent presidential hopeful Ahn Cheol-soo said Tuesday that South Korea must pursue closer ties with "northern economies" if it wants to make the next leap forward.
Delivering a keynote speech at the World Knowledge Forum gathering in eastern Seoul, the software entrepreneur-turned-politician said Seoul was able to achieve industrialization by working closely with maritime economies, but in the future, it needs to look northward.
In the past, the country relied heavily on maritime powers such as the United States and Japan for its growth. The northern economies refer to countries like China and Russia that have considerable growth potential down the line, as well as underdeveloped North Korea.
"By making inroads north, we can transform the current economic crisis into a growth opportunity," he said.
Ahn stressed that northern economies can also benefit South Korea's small and medium enterprises (SMEs), saying he wants to incorporate his "119 project," which is focused on helping smaller businesses, into the broader economic strategy.
He said there can be considerable opportunities for SMEs if the 119 project is linked to the building of North Korea's railroad system, and support for the construction of roads and sea transportation. Such developments could positively transform the communist country.
"By building up the North's logistics infrastructure, SMEs can gain access to more business opportunities, while at the same time helping contribute to closer inter-Korean cooperation," the candidate claimed. He said such an arrangement will lead to an economic "blue ocean" environment that can help all sides.
He said by extending his SME-focused 119 project to the North, he expects that the country's economy could move up at least 1 percent, and permit 10,000 South Korean SMEs to set up operations in the country. This, he said, can create 90,000 new jobs.
Touching on his North Korean policy, Ahn said that there is a need to hold talks with Pyongyang while at the same time seeking support and understanding from the United States, Japan, China and Russia.
"We will take the firm road in creating a peaceful Korean Peninsula," he said. (Yonhap)
