Democratic Party presidential candidate Lee Jae-myung announces Policy No. 1 of the Digital and Innovation Transformation Committee at the Small and Medium Business Center in Yeongdeungpo-gu, Seoul on the 11th. Parliamentary photojournalists
Democratic Party presidential candidate Lee Jae-myung announced on the 12th that the country will intensively nurture 10 future industries and “open an era of $1 trillion in exports within the term of office.” This is the concrete promise of the industrial sector in ‘Ijaenomics’, which aims to become the world’s fifth-largest country through major transformations in the four fields of industry, land, science and technology, and education.
Candidate Lee held a press conference for the announcement of industrial policy at the Korea Industrial Technology Association in Seocho-gu, Seoul on the same day, selecting the ‘Big 10 industries’ to lead the future industry and announced that the state would make a groundbreaking investment. Among the Big 10 industries, semiconductors, future mobility, rechargeable batteries, displays, bio-health, robots, green energy, aerospace, fashion tech, and metaverse were selected.
Candidate Lee said, “We will build ‘five super clusters’ of semiconductor, future mobility, secondary battery, display, and bio-health industries. “Emerging 5 new industry projects” will be promoted at the same time.” If elected president, he said he would receive a direct report on the progress of science and technology innovation and take care of it.
Candidate Lee emphasized achieving his goal within his term, saying, “I will usher in an era of $1 trillion in exports.” He explained, “I think that if we increase exports by 7.8% per year through active support from the government and market development, we can achieve 1 trillion dollars.” Regarding the so-called ‘5/5/5 pledge’, which set the goal of a national income of $50,000, KOSPI of 5,000, and the world’s fifth-largest country, “It is not a number that will be reached within the term of office. Please think of it as the vision and goal we are aiming for.” As of last year, Korea’s annual trade and exports amounted to about $640 billion.
It also promised digital transformation of manufacturing and energy transformation. Candidate Lee said that he would expand the supply of smart factories with enhanced process automation through sensors, Internet of Things (IOT), and robots to small and medium-sized manufacturing industries. He announced that he would create a ‘RE100 industrial complex’ based on the Energy Expressway. The RE100 industrial complex is an industrial complex that produces products by procuring 100% of the amount of electricity used by a company only with renewable energy such as wind power and solar power. The government announced that it would promote the ‘Small, Department, and Chapter 3.0 Project’ to intensively foster the material, parts, and equipment industries, and the government would strengthen support for necessary equipment and manpower to foster more than 200 ‘Best Small, Department, and Chapter Companies’.
Regarding the unemployment problem caused by the industrial restructuring policy, he said, “We will adapt to the new industry by re-educating workers in traditional industries and building a social safety net so that a just transition is possible.”