Son Kyung-sik, Chairman of the Korea Employers Federation, "The State Must Take a More Active Role in the Development of Science and Technology"

[Asia Economy Reporter Changhwan Lee] The Korea Employers Federation and five other economic organizations (Korea Chamber of Commerce and Industry, Federation of Korean Industries, Korea Federation of SMEs, Korea Association of Mid-sized Enterprises) along with the office of National Assembly member Yang Hyang-ja jointly held the "Great Debate for a Science and Technology Hegemony Nation and a Prosperous Republic of Korea" at the National Assembly on the 29th.

Son Kyung-sik, chairman of the Korea Employers Federation, representing the business community, emphasized in his welcoming remarks, "The government must take a more active role in fundamental scientific and technological research looking far into the future, as well as in core strategic fields such as semiconductors and bio industries."

Chairman Son stated, "It is no exaggeration to say that the future of the nation and companies will be determined by who first reaches the summit of technological innovation," adding, "Science and technology have become the core of national strategy, greatly impacting industry, security, public health, and job creation."

He added, "The intensifying conflict and competition between the United States and China over advanced technologies also exemplify how technological power affects a nation's economy and security."

He continued, "Although Korea ranks among the top globally in external indicators such as the proportion of R&D expenditure in science and technology and patent applications, the qualitative level of research still lags behind advanced countries," and argued, "There are limits to responding to the process of technological innovation, which requires enormous tangible and intangible resources, solely through the efforts of individuals and companies, so sufficient and multifaceted support at the national level is necessary."

In particular, he explained, "The government must take a more active role in fundamental scientific and technological research looking far into the future, and national support is essential especially for core strategic technologies with significant ripple effects such as semiconductors and bio industries."

National Assembly member Yang Hyang-ja said in her opening remarks, "To overcome national challenges, industry and science and technology must become the main protagonists of the presidential election."

Member Yang added, "The presidential election is a concentrated forum for future discussions," and emphasized, "To overcome national challenges such as the pandemic economic crisis, low birthrate and aging population, and polarization, industry and science and technology must become the main protagonists of the presidential election."