"80% of Corporate Executives Say Ruling and Opposition Presidential Candidates Lack Effort in Developing Science and Technology Policies"

54.5% of Respondent Companies Positively Evaluate Moon Jae-in Government's Science and Technology Policies
Specific Legislation and Regulatory Relaxation Needed

[Asia Economy Reporter Ki-min Lee] Eight out of ten domestic corporate executives believe that the current science and technology pledges and policy preparations of the ruling and opposition presidential candidates are insufficient.

The Korea Employers Federation, together with the Korea Federation of Small and Medium Business, the Korea Association of Mid-sized Companies, and the office of National Assembly member Yang Hyang-ja, announced the results of a "Survey of CEOs and Executives of Companies on Science and Technology" on the 26th. The survey, conducted over two weeks starting from the 1st of this month, targeted around 200 corporate executives, including CEOs of domestic companies.

When asked about the impact of science and technology on national development, 95.5% responded "high," while only 4.5% said "low." The influence of science and technology on economic growth, improvement of citizens' lives, and job creation was also rated highly at 96.5%, 94%, and 80.5%, respectively.

However, many respondents indicated that the science and technology pledges and policy efforts of the presidential candidates from both parties were very insufficient. When asked, "Are science and technology pledges being appropriately addressed in the candidate camps preparing for the presidential election?" 79% gave a negative evaluation. Additionally, 80% of the surveyed businesspeople responded "no" to the question, "Are science and technology policies being appropriately addressed?" Furthermore, 66.5% gave a negative assessment to the question, "Do the presidential candidates consider the science and technology sector important?"

The evaluation of the Moon Jae-in administration's science and technology policies was not particularly negative. Regarding the current government's science and technology policies, 54.5% responded positively, saying they are "doing well," which is 10% higher than the negative evaluation (45.5%) that they are "doing poorly." Also, 64% believed that the Moon Jae-in administration considers the science and technology sector important, which was higher than the 36% who thought it was not important.

However, issues with science and technology policies as perceived by businesspeople also emerged. Specifically, 77% said the legislative branch's efforts to ease regulations are inadequate, 78.5% said the implementation of regulatory easing by public officials is not being properly carried out, 68.5% said government research and development (R&D) investments are not planned and strategic, and 74% said the opinions of the corporate field are not being adequately reflected.

Meanwhile, when asked which administration among past governments best promoted science and technology policies, the order was Park Chung-hee (25.5%), Moon Jae-in (19.5%), Roh Moo-hyun (17.5%), Kim Dae-jung (16%), Lee Myung-bak (14.5%), Park Geun-hye (4%), Chun Doo-hwan (2.5%), and Roh Tae-woo (0.5%).