Do Je-hae edits news stories as part of the AI team.
Why Moon needs to closely look at Chengdu's innovation
Buildings in Chengdu's Tianfu district. Korea Times photo by Do Je-hae
By Do Je-hae
By Do Je-hae
CHENGDU ― This southwestern city about four hours from Seoul by plane may not be the best-known Chinese city to Koreans. But President Moon Jae-in's visit here this week is sparking interest in the exciting capital of Sichuan Province that has quickly emerged as China's new tech hub.
Many IT giants, such as IBM, Intel, Alibaba and Siemens, have flocked to Chengdu, home to almost 300 Fortune Global 500 companies. They're attracted to the city's young, skilled workforce and strong local government support, according to experts.
The city also boasts an impressive per capita GDP growth rate of over 7 percent, and international indexes have ranked Chengdu among the most innovative and entrepreneurial cities in China.
The Korea-Japan-China Summit, held on Dec. 23 and 24, is just one of many international events the city has been hosting on the back of its burgeoning status as a global metropolis.
To experience the heartbeat of Chengdu, a visit to the Tianfu district is a must. There is a palpable sense of energy and pride from one of the most prosperous and promising cities in China.
Chengdu is building a "unicorn island" in the district, with the aim of realizing China's version of Silicon Valley. A unicorn is a startup valued over $1 billion.
The city's landscape and architecture are breathtakingly grand. It is home to the New Century Global Center, a multipurpose building that is known as the world's largest building in terms of floor area. During the three-way summit, streetlights in the district were adorned with the three countries' national flags.
The flags of Korea, Japan and China fly from a streetlight in Tianfu Avenue, Chengdu, on Dec. 24. Korea Times photo by Do Je-hae
President Moon's visit to Chengdu was primarily about diplomacy. He was here with Japanese Prime Minister Shinzo Abe and Chinese Premier Li Keqiang to attend the summit on Dec. 24. He also held two important bilateral meetings, first with Chinese President Xi Jinping on Dec. 23 and another with Abe on Dec. 24, before returning to Seoul on Christmas Eve.
Due to his hectic schedule during the brief stay, the South Korean leader had a very limited experience of the city. He only stepped out of the conference rooms to visit a museum devoted to a famous Chinese poet of the Tang Dynasty on Dec. 24, before leaving Chengdu. This is regrettable because the President would have benefited from getting a closer look at the city.
It is noteworthy that Premier Li mentioned the cooperation being established among startups of the two countries during a separate bilateral meeting with Moon on the evening of Dec. 23, before the trilateral summit the following day.
“I just came from an innovation startup complex in Chengdu, where Chinese and Korean startups are conducting joint research,” Li said. “The complex is supporting the innovation of China and Korea. They are also pioneering the two countries' future cooperation.”
Moon said he hoped to “lead the age of the Fourth Industrial Revolution with China.”
From the beginning of his presidency, Moon has focused on nurturing startups as a core policy objective, but the results so far have been far from impressive. Under Moon's leadership, Korea has been struggling to catch up with global rivals in tech innovation and bracing for the Fourth Industrial Revolution.
His policies have been criticized for lacking fundamental measures to create an ecosystem where startups and tech innovation can flourish and respond properly to the new demands of today's consumers. The recent controversy over the ride-hailing app Tada is just one example of how backward Korea is when it comes to new industries.
President Moon Jae-in, third from right, gets a hug from Chinese Ambassador to Korea Qiu Guohong at an airport in Chengdu before leaving for Seoul, Tuesday. Yonhap
The country is still stuck with outdated regulations that make it difficult for new businesses to thrive. Moon should instruct policymakers to seriously study the Chengdu model of innovation to raise Korea's global competitiveness as a tech and innovation hub.
Chengdu's rise is an inspiration for Korean cities, particularly those in the provincial areas searching for new growth engines and struggling heavily with unemployment. As Korea has much to learn from China's tech leadership, it is all the more important for Korea to maintain healthy and active exchanges with China regardless of the lingering difficulties in bilateral relations.