By Kang Hyun-kyung
Staff Reporter
Korea is at a crossroads and the people should work harder and longer for the next five years, a senior presidential secretary stressed Friday.
``Otherwise, the nation will be caught up in a vicious circle, and it will be even harder to have a second chance afterwards,'' Pahk Jae-wan, the senior presidential secretary for state affairs and planning, said at a forum organized by the Korea Chamber of Commerce and Industry.
The secretary maintained the vast majority of advanced countries have at least one unrivaled area among five categories ― national brand, education, science, overall infrastructure and social stability ― but Korea tops in no single area as of now.
``The value of the national brand of this country is not comparable to its economy,'' Pahk said.
``It's time to put a priority on raising productivity, instead of focusing on wealth redistribution. Both government and businesses should work on a framework that can help the economy become an advanced one,'' he said.
Pahk said the illusion of an almighty government, which is a negative legacy of condensed industrialization, still remained as one of the core obstacles to advancing the Korean economy.
``In the near future, Korea needs to achieve a per capita income of more than $25,000, which could be an enormously difficult task. We should remember that only 19 countries, which are called advanced economies, have achieved an income of $30,000 per capita'' said Pahk.
To join the rich countries' club, he continued, the nation should look into ways that can bring fundamental changes in education, the role of the government and social policy.
Pahk singled out climate change, the energy industry, culture, and information technology as alternative growth engines and said that the nation should find niche markets in these areas to maximize its growth potential.
The secretary said the nation also has in its thirst for advanced education and its hard-working people.
``The people tend to unite and become stronger when facing an external threat,'' he said.
Pahk highlighted the golden jewelry donation campaign in 1998 when the economy was hit hard by the Asian financial crisis and the recent candlelit protests as examples of how people voluntarily get together to get through hardship.