Four Presidential Candidates' Four Unique 'Digital Transformation' Strategies [Cha Min-young's PostIT]

At the 4th Committee on Future Strategy Global Policy Conference
Candidates Lee Jae-myung, Yoon Seok-yeol, Sim Sang-jung, and Ahn Cheol-soo Present

Ahn Cheol-soo, the presidential candidate of the People’s Party, Yoon Seok-youl of the People Power Party, Lee Jae-myung of the Democratic Party, and Sim Sang-jung of the Justice Party attended a media event held on the 25th at the Chosun Hotel in Jung-gu, Seoul, and posed for photos before the event began. Photo by the National Assembly Press Photographers Group

[Asia Economy Reporter Cha Min-young] # In the era of 'digital transformation,' where online platforms and digital-semiconductor technologies form the core pillars, what kind of president do we need? On the 16th, presidential candidates Lee Jae-myung, Yoon Seok-yeol, Sim Sang-jung, and Ahn Cheol-soo announced their policy directions related to digital transformation at the '2021 4th Industrial Revolution Global Policy Conference' hosted by the Presidential 4th Industrial Revolution Committee. The main keywords are growth and inclusion, technological hegemony, and openness.

Lee Jae-myung: "A Digital Korea Without Exclusion"

Lee Jae-myung, the Democratic Party presidential candidate, emphasized, "We will create a Digital Korea where no one is left behind," and stated, "We will build physical, institutional, and human infrastructure." On this day, Lee’s policy announcement was read by Lee Kwang-jae, a Democratic Party lawmaker and Chair of the Future Economy Committee.

Lee said, "To achieve digital transformation, we will reform regulations that have blocked innovation and clear the way," adding, "We will invest in Internet of Things (IoT), cloud, and 5G technologies, and through educational system innovation, cultivate one million digital talents to establish human resource infrastructure."

He also stated, "We will support digital transformation in traditional industries such as healthcare, education, agriculture, finance, distribution, and logistics, as well as innovative startup companies," and announced plans to "host a global startup competition to make Korea a country where the spirit of challenge thrives."

Furthermore, he said, "We will transform the Korea Development Bank into a venture investment specialized bank like Singapore’s Temasek and Silicon Valley Bank Group to carry out mergers and acquisitions (M&A) investments in key global companies," and added, "At the same time, we will guarantee digital freedom and equality rights so that even digitally marginalized groups can enjoy the fruits of growth." He also expressed his ambition to leverage his experience in attracting investments while serving as mayor of Seongnam City and governor of Gyeonggi Province.

Yoon Seok-yeol: "Administration to Support Technological Innovation"

Yoon Seok-yeol, the People Power Party presidential candidate, emphasized regarding digital transformation, "We aim to accelerate digital technological innovation and promote revolutions in education, industry, and jobs to support this," adding, "We will implement an administration that can back technological innovation." On this day, Yoon’s policy announcement was read by Won Hee-ryong, head of the People Power Party’s Central Election Committee Policy Headquarters.

He pointed out, "The 4th Industrial Revolution is bringing significant technological changes worldwide, breaking down the division of knowledge and industrial sectors, leading to convergence," and noted, "At the same time, during the transition to a platform economy, the issue of technological monopolies by some and the failure to establish an industrial system and distribution structure suitable for the platform economy is a global challenge and a major domestic social issue."

He added, "Education to supply talent and policies to integrate with existing industries are necessary, but public innovation is not keeping pace," criticizing, "The problem lies in politics and administration steeped in outdated vested interests and customs." Especially in education, he explained the need for a flexible approach supported by artificial intelligence (AI) and platforms, moving away from zero-sum logic to personalized education.

Yoon explained, "We must focus administration on transparent data sharing and on the private sector, society, and the public field," meaning "breaking down regulatory barriers and transferring data monopoly and data processing authority to the private sector, the field, and new changes."

Regarding job creation and industrial development, he said, "Jobs and industries must go beyond the current fragmented distribution among existing companies, research institutes, and the public sector," citing examples such as company-centered universities, national research and development (R&D) centers, and global open innovation.

Sim Sang-jung: "Technological Progress Must Have a 'Human Face'"

Sim Sang-jung, the Justice Party presidential candidate, stated regarding digital transformation, "Technological progress must have a human face," and pledged, "We will uphold the Justice Party’s four major principles in the 4th Industrial Revolution era." On this day, the policy was read by Lee Eun-joo, co-chair of the Justice Party’s election committee.

The Justice Party’s four major principles are Green Digital, Coexistence Digital, Digital Democratization, and Strengthening R&D. Green Digital refers to energy saving based on decarbonization policies; Coexistence Digital means strengthening support for digitally vulnerable groups to balance digital transformation and inclusion. Digital Democratization means citizens should have the right to request necessary information about digital platforms, and Strengthening R&D means reducing the possibility of side effects such as sovereignty infringement through research and development rather than deregulation.

The Justice Party’s promises include: ▲ implementing paperless administration centered on the public sector, ▲ introducing a carbon footprint management system, ▲ upgrading the Korea Intelligent Information Society Agency responsible for digital inclusion to a promotion agency, ▲ bridging the digital divide, ▲ supporting the development of explainable algorithms, ▲ banning abuse of power by global big tech companies, ▲ abolishing the IT industry’s comprehensive wage system, ▲ guaranteeing consumers’ rights to repair electronic products, ▲ supporting internet usage, ▲ disclosing the cost of telecommunications fees, ▲ expanding the current 30 trillion won R&D budget to 40 trillion won, ▲ fostering open source and making strategic investments in explainable AI and quantum computers.

Sim emphasized, "The advancement of digital technology will make our lives several steps more convenient and prosperous, but this prosperity and convenience must never be given to only a few," and added, "It must contribute to responding to climate change for the future of the Earth."

Ahn Cheol-soo: "Digital Playground Created by Competitors... Technological Sovereignty"

Ahn Cheol-soo, the People’s Party presidential candidate, who appeared via video, opened his remarks by showing a photo of U.S. President Joe Biden holding a semiconductor chip, saying, "This will be a symbolic photo of the 21st century." President Biden had previously held up a semiconductor chip before signing an executive order in February to inspect supply chains of key materials such as semiconductors, electric vehicle batteries, and rare earths, emphasizing cooperation with allies.

Ahn said, "Due to the 4th Industrial Revolution, human history has already entered an era where science and technology, diplomacy, and security are integrated," and pointed out, "In the digital transformation (DT) era of the 4th Industrial Revolution, characterized by hyperconnectivity and a hyperconnected society, countries that dominate networks and platforms become hegemonic powers." He noted that the success of the 4th Industrial Revolution is the starting point for a virtuous cycle of growth and welfare.

He identified 'growth' as the immediate challenge in the 4th Industrial Revolution era. He said, "Securing technological sovereignty and global cooperation are important to raise potential growth rates," and warned, "Playing in a digital playground created by competing countries is like 'Son Goku in the palm of Buddha’s hand,' and 5G, 6G network technology and cybersecurity are issues of global hegemony even for the United States, the strongest country."

He continued, "Scientific and technological leadership is what can solve national and human challenges," emphasizing, "Problems such as economic polarization and inequality and carbon neutrality must be solved by science and technology, not ideology or religion."

He added, "For science and technology to create new growth engines, it is necessary to expand social safety nets where entrepreneurial spirit thrives," and pledged, "We will promote the birth of new products and new business models through negative regulations that only list prohibited items."