President Lee “We must transform into a start-up society… Turn Korea into a start-up incubator”
Quick Look
- At a meeting of senior advisors, President Lee Jae-myung declared an 'era of national entrepreneurship' and requested the establishment of a entrepreneurship support system in response to changes in the employment structure in the AI and robot era.
- In addition, saying that the prolonged war in the Middle East could make it difficult for vulnerable groups to survive the winter, he ordered an inspection of existing support systems and a preemptive search for households at risk in welfare blind spots.
AI-generated summary
Why It Matters
President Lee presided over a meeting of senior aides at the Blue House to mark Small Business Day, emphasizing support for start-ups and strengthening welfare for the underprivileged.
President Lee Jae-myung said on the 5th, "Korea must become a huge startup incubator and move toward an 'era of national startups' in which all citizens become agents of growth."
President Lee said this at a meeting of senior aides presided over at the Blue House on Small Business Day, saying, “For the Korean economy to make a qualitative leap beyond quantitative expansion, a major change in the growth method is necessary.”
President Lee said, “The employment structure is rapidly being reorganized due to the development of artificial intelligence and robot technology,” and added, “The existing system in which quantitative growth created jobs and drove social development is facing its limits.”
He continued, "Of course, the country's efforts to expand jobs must continue, but in the current situation where growth does not lead to jobs, it is essential to transition to a start-up society where various economic entities directly create new markets."
In addition, he emphasized, "Anyone with a good idea and technology should be able to freely try starting a business, and even if they fail, they should have a system where they can try again at any time. We need to build a multi-layered support system in finance, technology, market development, etc. so that promising startups can grow and develop into global companies."
President Lee also said, "This year, it is highly likely that winter will be more difficult for vulnerable groups than usual due to the uncertainty of oil prices and prices due to the prolongation of the war in the Middle East," and ordered, "Please reexamine the existing support system."
He added, "It is also necessary to preemptively identify at-risk households in welfare blind spots and quickly provide necessary services," adding, "In particular, please take thorough safety inspections and cold wave measures for vulnerable residential facilities such as single-room villages and gosiwons."
At the same time, he urged, “Welfare is not something to wait for, but to seek it out first.”
Open Questions
- What is the specific amount of financial support and how to secure financial resources?
- When will we take a concrete response to the oil price and inflation instability caused by the prolongation of the Middle East war?
- What is the action plan for preemptively identifying vulnerable households in welfare blind spots?
