Seoul: Finance Minister Koo Yun-cheol stated that the upcoming five years will be a "golden time" to fundamentally enhance South Korea's economic growth potential. Koo made these comments while leading a ministerial meeting aimed at discussing the Lee Jae Myung administration's five-year economic development blueprint, which aspires to create a "super-innovation economy."
According to Yonhap News Agency, the Finance Minister highlighted the global shift towards a "winner-takes-all" economy, underscoring the necessity of transitioning to a super-innovation economy. This transition is deemed essential rather than optional.
During the meeting, the government unveiled plans to initiate 15 task forces. These groups will comprise experts from both public and private sectors, tasked with spearheading strategic projects geared toward developing new growth engines amid the ongoing economic downturn.
Koo emphasized that these task forces will focus on "kingpin" technologies crucial for addressing significant economic challenges. He advocated for placing businesses, which have a keen understanding of the market, at the center of these initiatives. Furthermore, he assured that the government would maintain continuous communication and offer steadfast support until visible outcomes are realized.