As news broke that Lee Jaemyung, the presidential candidate of the Democratic Party of Korea, would provide strong incentives to expand investment in the artificial intelligence (AI) industry, shares of companies such as Fourbyfour and Webcash rose. On this day, the business community requested support measures to expand investment in the future AI industry. In response, Lee stated his plan to offer incentives to companies, emphasizing that this is closely related to balanced regional development. Lee also responded positively to the idea of a "Mega Sandbox," a broad regulatory easing framework aimed at addressing socioeconomic issues.
The Mega Sandbox is an expanded concept that goes beyond the traditional sandbox focused on regulatory innovation, encompassing education, finance, workforce, taxation, research and development (R&D), and the delegation of authority to local governments. The idea is that both direct and indirect issues must be addressed together to resolve structurally intertwined economic problems?a concept that Chairman Choi has consistently emphasized.
As of 2:56 p.m. on May 8, shares of Fourbyfour were trading at 29,450 won, up 20.94% from the previous day. Webcash was also on an upward trend, rising more than 16%.
During a closed-door session for business leaders at the "Democratic Party Presidential Candidate Invitational Meeting with the Five Major Economic Organizations" held with the five major economic organizations, Lee stated, "The current concentration in the Seoul metropolitan area cannot ensure competitiveness in the future; we must pursue balanced development."
The meeting was attended by Choi Taewon, Chairman of the Korea Chamber of Commerce and Industry; Sohn Kyungshik, Chairman of the Korea Employers Federation; Ryu Jin, Chairman of the Federation of Korean Industries; Yoon Jinshik, Chairman of the Korea International Trade Association; and Choi Jinshik, Chairman of the Korea Federation of Middle Market Enterprises, as well as more than 300 business leaders from companies such as Samsung, SK, Hyundai Motor, LG, and Lotte.
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