Gong Yeongun: "Rivalry with Go Dongjin Joining People Power Party? Cooperation Needed More Than Samsung-Hyundai Competition"

Democratic Party's 9th Recruited Talent
Former Hyundai Motor Employee... 'Economic Expert'
"We Must Change the Flow of Han Economy"

Gong Young-woon, former Hyundai Motor Company president and the 9th talent recruited by the Democratic Party of Korea for the general election, expressed his commitment to playing a role in finding a breakthrough for future economic growth through new technologies as he enters politics. Regarding the political competition forming with Ko Dong-jin, former Samsung Electronics Mobile Division president recruited by the People Power Party, he said, "There is no need to view it as a confrontation," adding, "Regardless of party affiliation, we need to cooperate and come up with ideas."

Gong Young-woon, former President of Hyundai Motor Company.
[Photo by Hyundai Motor Company]

On the 23rd, Gong appeared on the program ‘Kim Eo-jun’s Humility is Difficult News Factory’ and said, “Samsung and Hyundai (Motor) have competed in the past in areas like automobiles, but now they need to cooperate by combining their respective strengths in semiconductors, batteries, and so on.” This remark was made with Ko Dong-jin, who joined the People Power Party on the same day, in mind.

Gong, a native of Sancheong County, Gyeongnam, graduated from Seoul National University with a degree in Business Administration. After working as a reporter at Munhwa Ilbo, he joined Hyundai Motor Company. He later served as head of the Strategy Development Team, head of the Overseas Policy Team, and director of Public Relations. Gong’s recruitment by the Democratic Party is known to reflect the intention of party leader Lee Jae-myung to prioritize experts in the real economy amid important global economic issues such as the U.S.-China conflict and supply chain restructuring.

Gong voiced the need for change in the economic policies of the Yoon Suk-yeol administration. He pointed out, “Last year, South Korea’s economic growth rate was only 1.3%, which is a very shocking figure even considering external factors like the COVID-19 pandemic,” adding, “The overall trend and direction must be changed.” He continued, “Cutting the R&D (research and development) and education budgets when preparing this year’s budget was a misstep,” emphasizing, “Our country must survive on people and technology, so reducing education and science means a serious lack of concern for the future.”

He also said, “During a recession, it’s understandable to cut back on dining out and buying clothes, but not on children’s education, which I don’t understand,” and added, “Although both ruling and opposition parties agree on the need to invest in the future, suddenly cutting the relevant budget by 5 trillion won is unacceptable. Instead, it should be dramatically increased.”

Meanwhile, at the talent recruitment ceremony held at the National Assembly the day before, Gong said, “To prevent the economy from falling into a vicious cycle, it is urgent to discover new growth momentum,” and added, “I will devote all my efforts to building an innovation growth ecosystem by dressing existing industries in innovation and finding breakthroughs in new technologies that can change the competitive landscape.”