Lee Jae-myung, the presidential candidate of the Democratic Party, presented a vision to create a 100 trillion won era of artificial intelligence (AI) investment and propel South Korea into the ranks of the world's top three AI powerhouses.

On the 17th, candidate Lee announced through Facebook his plan to establish a 100 trillion won fund that would invite participation from both citizens and businesses.

"Overcoming fake growth, I will open a true growth era through a major economic leap," candidate Lee stated. He emphasized, "South Korea has grown from a manufacturing-based export powerhouse to a globally envied information technology (IT) powerhouse. Now, we must transcend being an IT powerhouse and leap into becoming an AI powerhouse through technology-driven growth."

He further declared, "I will open a 100 trillion won era of AI investment. I plan to significantly increase the government budget to spur private investment," and outlined a specific direction saying, "We will expand both general-purpose AI and industry-specific AI, and achieve a technology-driven AI industrial revolution across all fields including industry, culture, defense, and energy."

Moreover, he announced, "We will nurture globally leading advanced companies. I will invest historically unprecedented amounts in research and development (R&D) in advanced industries such as artificial intelligence, bio-healthcare, content and culture, defense and aerospace, energy, and manufacturing, which will drive economic growth."

Establishment of a 100 trillion won fund and fostering of small and venture companies

Candidate Lee also stated, "I will create a 100 trillion won fund that will involve both citizens and businesses." He remarked, "The world’s leading semiconductor foundry TSMC is a successful case where government investment became the catalyst for growth," explaining that "the United States is also pursuing the establishment of a sovereign wealth fund for the purpose of fostering strategic industries."

This is interpreted as emphasizing the necessity for strategic investment at the national level as global technological hegemony competition intensifies.

In fact, the United States decided to invest approximately 53 billion dollars (around 70 trillion won) in the semiconductor industry through the CHIPS Act in 2022, while China is also making large-scale investments through its national semiconductor fund.

Furthermore, candidate Lee stated, "I will make small and venture companies the core growth foundation of the economy," asserting that he would support the digital transformation of traditional industries and secure future technologies linked to advanced strategic industries, while also creating a venture investment market worth 40 trillion won.

This shows a commitment to creating an ecosystem where innovative companies can grow, moving away from a business structure centered around large corporations.

Energy and cultural industry policies and future growth strategies

As for energy pledges, he presented commitments such as "constructing offshore power networks along the west coast by 2030," "creating an RE100 (100% renewable energy usage) industrial complex through an AI-based intelligent power grid," and "nationwide expansion of sunlight and wind pension plans."

In the cultural industry sector, he stated, "I will grow the cultural industry as a foundation for South Korea's future growth and significantly expand national cultural finances to enhance content technology development and policy finance support," adding, "I will create a cultural powerhouse and become one of the global soft power 'big five.'"

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