(LEAD) Moon confident about S. Korea's digital powerhouse vision

All News 14:27 May 21, 2020

(ATTN: UPDATES with more remarks in paras in 3-4, details in last para; ADDS photos)

SEOUL, May 21 (Yonhap) -- President Moon Jae-in stressed the need Thursday to safeguard jobs and the industrial ecosystem amid the COVID-19 crisis, speaking at a meeting with business leaders here.

He pointed out that South Korea has turned crises into opportunities.
"Both industries and jobs are in crisis situations but we have opened a new future, overcoming such a crisis," he said at the beginning of the session held at the Korea International Trade Association in southern Seoul.

During the financial meltdown in the late 1990s, the government fostered the information technology industry; it promoted the green growth sector in response to the 2008 global financial crisis, he noted.

"I am confident that South Korea will be reborn as a power player in the digital economy era by overcoming the industrial crisis caused by the (new) coronavirus" on the basis of concerted efforts by the government, companies and the people, Moon added.

President Moon Jae-in speaks at a meeting with business leaders at the Korea International Trade Association in southern Seoul on May 21, 2020. (Yonhap)

Participants included the CEOs of 17 major firms in such industries as aviation, shipbuilding, automobile, machinery and communication, as well as representatives from business lobby groups.

He said it is important to protect jobs and the entire industrial ecosystem with a can-do spirit.

The president reaffirmed a swift push for the Korean version of the New Deal, which has a focus on the fields of digital and green projects.

He said the government is stepping up efforts to support skilled manpower in new industries, including artificial intelligence, big data, blockchain, drones, bio-health, smart ships and future vehicles.

The government will help them participate in joint research programs with global universities, research institutes and entrepreneurs, he added.

Cheong Wa Dae said the main purpose of Moon's meeting with the business figures was for him to listen to their opinions on the economic conditions and how to ride out difficulties.