[Editorial] The New Government's Strategic Industries Read as 'Abcdef'

The new government's strategic industries can be summarized as 'ABCDEF': Artificial Intelligence (AI), Bio, Contents, Defence, Energy, and Factory (Manufacturing). It is a clever naming strategy and excellent targeting. The concept is immediately clear and cohesively structured.

The government's economic growth plan is to concentrate research and development (R&D) investment in these six sectors and to build the industrial ecosystem around them.

However, concerns are already being raised at the outset, mainly due to the pronounced focus on 'A (AI)'. While it is understandable since AI is essentially a foundational technology, functioning more as infrastructure like electricity or the internet than as an independent industry, the argument is that establishing a strong foundation early will yield significant first-mover advantages. The Presidential Office has established a new position, 'Chief of AI Future Planning', and launched the 'National AI Committee', while the government is also conducting a large-scale selection of 'National AI Champions'.

AI has naturally taken the leading position in the National Growth Fund, which is being formed with a scale of 100 trillion won. Venture companies and startups related to AI have gained significant momentum, and the venture capital (VC) industry is also concentrating its investments on these companies. As a result, some critics argue that the government's strategic industries are not 'ABCDEF' but rather 'Abcdef', meaning only 'A' stands out. One CEO in the VC industry commented, "This is an unstoppable trend and, since AI is an infrastructure technology, we are also focusing on AI. However, I am concerned whether it is right for the government and the entire industry to go all-in on AI alone."

There is particular disappointment that B (Bio) is being treated as 'b'. Korea's bio industry has already surpassed Japan and reached the highest level in Asia. With just a bit more government attention, it could leap to a world-class standard, making the current situation regrettable. In fact, even amid these circumstances, major pharmaceutical companies such as Yuhan Corporation and Hanmi Pharmaceutical, as well as bio firms like Alteogen, LegoChem Biosciences, and ABL Bio, have advanced to the level of standing shoulder to shoulder with leading global companies or receiving partnership offers.

There are differing opinions regarding the claim that C (Contents) is being treated as 'c'. Currently, K-pop and K-movies are dominating the global stage. When K-contents first began to rise, there was a joke: "Why did K-contents succeed? Because the government didn't interfere (regulate) and just let it be." This is partially convincing. However, some also evaluate that the government's consistent and substantial investment in the content industry over the years is now bearing fruit. The so-called 'arm's length principle'-support without interference-has been well maintained.

As for D (Defence), E (Energy), and F (Factory/Manufacturing) being referred to as 'd', 'e', and 'f', the government may feel this is unfair. This is because considerable budgets have been allocated to support trade, contract guarantees, and other assistance for these industries, which are now yielding tangible results.

ABCDEF represents carefully selected strategic industries. Now, it is crucial to focus on all of them without excessive bias (selection and concentration). Only then can the government build the ABCDEF industrial ecosystem as intended. Furthermore, a strong industrial foundation is necessary for President Lee Jaemyung's declared era of KOSPI 5000 to become a reality. Achieving KOSPI 3000 through lip service is putting the cart before the horse. The horse (corporate value) should pull the cart (stock price), not the other way around. If it is a six-horse carriage, shouldn't all six horses be encouraged to pull together?