Five Major Economic Organizations Propose "100 Key Tasks" Including Strengthening AI Capabilities

Policy Proposals for the Next Administration Delivered to Presidential Candidates
Four Key Areas for Future Growth Outlined in Policy Recommendation Booklet

The five major economic organizations jointly proposed "100 Key Tasks in Four Major Areas" that the next administration should focus on, including strengthening artificial intelligence (AI) capabilities, fostering the aerospace industry, and responding to U.S. Trump administration trade measures.

On the 8th, an economic five-organization meeting with presidential candidate Lee Jae-myung of the Democratic Party of Korea was held at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul. From the left, Jin-sik Choi, Chairman of the Korea Federation of Medium-sized Enterprises; Jin-sik Yoon, Chairman of the Korea International Trade Association; Tae-won Choi, Chairman of the Korea Chamber of Commerce and Industry; Candidate Lee; Kyung-sik Son, Chairman of the Korea Employers Federation; Jin Ryu, Chairman of the Korea Economic Association. Photo by National Assembly Press Photographers Group

The five economic organizations?Korea Chamber of Commerce and Industry, Korea Employers Federation, Korea Economic Association, Korea International Trade Association, and Korea Federation of Medium-sized Enterprises?released a policy recommendation booklet titled "Proposals from Citizens and Businesses for Future Growth" ahead of the 21st presidential election. This is the first time that the five economic organizations have jointly delivered a policy recommendation booklet to presidential candidates.

The economic organizations diagnosed, "The Korean economy has continued to grow despite numerous hardships such as the foreign exchange crisis, the global financial crisis, and the pandemic. However, it is losing vitality due to entrenched low growth and aging, the spread of protectionism, and the AI technological revolution." They emphasized, "The old growth formula no longer works, and a new strategy is urgently needed. Therefore, the upcoming presidential election must serve as a turning point to nurture the tree of the Korean economy once again."

Joint Policy Proposal Collection by Five Economic Organizations: Major Policy Suggestions in Four Key Areas. Korea Chamber of Commerce and Industry

The policy booklet is divided into four major areas: growth promotion engines, transplantation of new businesses, expansion of economic territory, and creation and revitalization of the basic foundation. It contains a reality assessment, analysis, and policy proposals for each area, spanning 269 pages.

First, for growth promotion, the organizations selected "strengthening national AI capabilities" as a priority task and proposed the "AI 3+3 Initiative Strategy." They assessed that the next three to four years are a golden time for Korea to leap into the ranks of the world's top three AI powers. They stressed the need for a strategy that creates a virtuous cycle among the three key input factors?energy, data, and talent?and the three value chains?infrastructure, models, and AI transformation.

In addition, they called for a government-initiated priming budget investment and a private sector-led space development strategy to ensure Korea does not fall behind in the global competition in the high-value-added future aerospace industry. They also proposed expanding support for the development of the robotics and bio industries.

Status of Major Tariff Measures under the Second Trump Administration (As of April 21). Economic Five Organizations' Recommendations Collection

The organizations also presented survival strategies to cope with the recent spread of protectionism, such as establishing a public-private joint negotiation support system and developing trade strategies with the United States to respond to U.S. tariff measures.

They argued for the need to pursue new trade agreements with emerging market hub countries in Asia, Africa, the Middle East, and Central and South America, which possess abundant key minerals and have high growth potential.

They also emphasized the necessity of employment and labor policies to address the decline in the working-age population caused by low birth rates and aging.

Kang Seokgu, Head of the Research Division at the Korea Chamber of Commerce and Industry, said, "Given that our economy's growth engines are currently weakened, it is necessary to review and boldly attempt new growth methods that have not been tried before. I hope the next administration will give serious thought to the future and growth of Korea."

National Proposal 'My Own Policy Wishes for Presidential Candidates' 12 Major Tasks. Economic 5 Organizations' Recommendations Collection

The policy booklet also reflects 24,490 opinions from 8,184 citizens who participated in the "My Own Policy Wishes for Presidential Candidates" survey conducted by the Korea Chamber of Commerce and Industry from the 15th to the 30th of last month. Citizens cited livelihood economy, growth of businesses and industries, and economic recovery as the most desired policies for the 21st presidential election.