President Lee Jae-myung Chooses AI as First Industrial Site… Emphasizes Commitment to Revitalizing the Economy
President Lee Jae-myung expressed a strong commitment to economic recovery by selecting an artificial intelligence (AI) facility as the first industrial site he visited after taking office.
The strategy is to find a breakthrough for the South Korean economy, which has entered a low-growth era of around 0%, through qualitative growth in advanced industries such as AI.
According to the presidential office, President Lee attended the 'Ulsan AI Data Center Launch Ceremony' and 'AI Global Cooperation Business Meeting' held in Ulsan, Uljua County, on the 20th.
This visit is evaluated as his first regional schedule and the first visit to an industrial site since his inauguration, clearly demonstrating his intent to make the AI industry a new driving force for national growth.
The meeting included prominent business leaders such as Choi Tae-won, Chairman of SK Group; Jeong Sin-ah, CEO of Kakao; Lee Jun-hee, President of Samsung SDS; and Kim Yoo-won, CEO of Naver Cloud. Key economic policy advisors from the presidential office, including Kim Yong-beom, Policy Chief; Ha Jun-kyung, Senior Economic Growth Advisor; and Ha Jeong-woo, Chief of AI Future Planning, were also present.
“Overcoming the Difficulties into a New World” President Lee Jae-myung’s Commitment to Fostering the AI Industry
During the meeting, President Lee stated, "South Korea has experienced rapid growth so far, but we are currently at a crossroads of overcoming difficulties. Depending on our preparation, we may transition into a new world or find ourselves in a regression. I believe that through the great resilience of our people, we will overcome this crisis and welcome a new world."
The attending business leaders requested government support for the overseas expansion of the AI industry through diplomacy, to which President Lee emphasized the significance of the AI industry as a vital national infrastructure and core strategic industry, highlighting the need for public-private collaboration.
President Lee particularly noted that the opinions of business leaders should be "the voices of the field that need to be listened to most before policy decisions."
He expressed gratitude to Chairman Choi Tae-won for his efforts in attracting large-scale AI data centers and thanked CEO Jeong Sin-ah for leading the industrial economy with outstanding capabilities.
Total Efforts for Scientific and Technological Innovation and Revitalization of the Livelihood Economy
President Lee's commitment to fostering the AI industry has been consistent since the early days of his presidency.
At the Cabinet meeting on the 19th, he deliberated and approved a partial amendment of the enforcement decree of the 'Special Act on Support for Engineering and Science Talent to Enhance National Scientific and Technological Competitiveness,' stating that he would accelerate the establishment of policies for nurturing scientific and technological talent and creating an innovative ecosystem.
Ha Jeong-woo, Chief of AI Future Planning, emphasized, "Advanced science and technology are the foundation for leading the world, and the key asset of the K-Initiative. Improving the treatment of core talent is the first step to leading the world with advanced science and technology."
In addition to the AI industry, President Lee is also focusing on revitalizing the livelihood and economy.
Ahead of his attendance at the G7 summit on the 13th, he met with the heads of six major economic organizations and the leaders of five major groups, emphasizing the 'one team spirit' of collaboration between government and businesses.
At that time, President Lee urged the cooperation of the business community, stating, "Solving the food issue for our citizens and creating a reasonable economic ecosystem to address livelihood matters is the most important thing."
Additionally, on the 11th, he visited the Korea Exchange to present his plans for stock market revitalization.
It is highly unusual for a sitting president to visit the exchange shortly after taking office, which is interpreted as a strong commitment from President Lee to activate the stock market.
Amid these efforts, the KOSPI index closed at 3021.84, surpassing the 3000 level for the first time in three years and six months.
Image source: Lee Jae-myung's social media, presidential office, KOSPI, closing surpassing 3000 / Korea Exchange
