Lee unveils economic vision to make Korea one of world's top 5 countries
Ruling Democratic Party of Korea presidential candidate Lee Jae-myung introduces his economic vision at the National Assembly in Seoul, Jan. 11. Yonhap
Ruling party presidential candidate Lee Jae-myung unveiled his economic vision Tuesday, pledging to lead the country to major transitions in science and technology, industry, education and land development so as to make Korea one of the world's top five countries.
"This is a strategy that could turn crisis into opportunity," Lee said during a campaign event, explaining his "new economy" plan at the National Assembly in Seoul. "It is also a map to find a path to sustainable growth."
The Democratic Party of Korea candidate said his definition of the world's top five great countries refers to nations that have strong "hard power," which signifies a country's military and economic capabilities, and "soft power" that boasts high quality cultural influence.
He added that future-oriented innovations, openness guaranteeing human rights and diversity, and contributions to society are requirements for the world's top five great powers.
To achieve the goal, Lee emphasized transitions in four sectors: science and technology, industry, education and land development.
He promised 10 strategic technologies, including artificial intelligence and aerospace, to be pursued as "presidential big projects" and to create a deputy prime minister post for innovations in science technology.
For industry, Lee stressed digital transformation and the energy sector as the country's new growth engines with green energy solutions.
"Ultimately, I will create 2 million jobs with a 135 trillion won ($112 billion) investment in digital transformation," he said. "I will also establish a ministry of climate and energy to support transitions in the energy sector."
He also vowed support to beef up the country's exports and upgrade the manufacturing and service industries, as well as introducing policies for startups and small firms.
In education, Lee said he would increase support for college education and lifelong learning programs.
The candidate called for balanced national development and said he would upgrade the country's transportation system with high-speed trains.
"The world is in competition regarding the pace of the transition and I believe we will see the result in five years at most," he said. "That is why we are now in the golden time for such a major transition."
To support his transition plans, Lee said reforms in the public financial sector were also essential. (Yonhap)