The five economic organizations jointly proposed 100 key tasks that the next government should focus on, including strengthening AI capabilities and responding to U.S. trade measures. This is the first time the five economic organizations have jointly delivered policy recommendations to presidential candidates.
The five economic organizations, including the Korea Chamber of Commerce and Industry, Korea Enterprises Federation, The Federation of Korean Industries, Korea International Trade Association, and Korea Federation of Medium Enterprises, announced on the 11th a collection of 100 policy tasks titled 'Proposals from the People and Corporations for Future Growth' ahead of the 21st presidential election.
The five economic organizations noted in their recommendations, "Despite numerous trials such as the foreign exchange crisis, global financial crisis, and pandemic, the Korean economy has taken root and borne fruit as it has grown. However, it is gradually losing vitality amid the entrenchment of low growth and aging, the spread of protectionism, and the technological revolution of AI." They emphasized, "Since the growth formula of the past does not work, a new strategy is urgently needed, and the upcoming presidential election should serve as a turning point to nurture the tree of the Korean economy again."
The recommendations first identified 'strengthening national AI capabilities' as a growth-boosting task and proposed an 'AI 3+3 Initiative Strategy.' They diagnosed that the next 3 to 4 years is a golden time for Korea to leap into one of the top three nations in AI and emphasized that a strategy is needed to create a virtuous cycle among three key input factors: energy, data, and talent, and three value chains: infrastructure, models, and AI transformation.
The need to concentrate on nurturing new industries was also highlighted. To avoid falling behind in the global competition of the high value-added Mirae Industries sector, they stated that government-level budget investments and private-sector-led space development strategies are necessary. They also proposed expanding support for the robotics and biotechnology sectors.
They also presented survival strategies in response to the recent spread of protectionism, including establishing a public-private joint negotiation support system to counter U.S. tariff measures and developing U.S. trade strategies. They asserted that new trade agreements should be pursued with emerging market countries in Asia, Africa, the Middle East, and Latin America, which have abundant essential minerals and significant growth potential. Additionally, they advised that employment and labor policies are necessary to address the decline in the working-age population due to low birth rates and aging.
KORCHAM's Research Headquarters Chief Kang Seok-gu said, "Given that the growth momentum of our economy is currently declining, it is necessary to review new growth methods that have not been attempted before and to boldly try them from scratch," and added, "I hope the next government will carefully consider the future and growth of South Korea."