[New Year's Address] Ryu Jin: "We Must Usher In a Major Transformation of the Korean Economy... Will Present a Future Strategy Roadmap"

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Ryu Jin, Chairman of the Korea Economic Association, emphasized ahead of the New Year 2026, "It is time for us to usher in a new era of 'New K-Industry,' marking a major transformation for the Korean economy."

In his New Year's address on the 29th, Chairman Ryu stated, "We need a new approach and agile, bold challenges," adding, "We must decisively abandon outdated systems and revive the dynamism of the private sector."

He believes that 2026 will be a turning point as humanity transitions into a new technological civilization. Chairman Ryu explained, "The revolutions in artificial intelligence (AI) and mobility, the restructuring of supply chains, and changes in climate and demographic structures are transforming the paradigms of national economies and industrial structures."

Ryu Jin, Chairman of the Korea Business Association, is making policy suggestions at the "Kim Moonsoo People Power Party Presidential Candidate-Economic 5 Organizations Meeting" held at the Korea Chamber of Commerce and Industry in Namdaemun-ro, Jung-gu, Seoul, on May 22. Photo by Kim Hyunmin

Looking back on 2025, he described it as "a year in which the Korean economy steadily advanced, standing firm against strong external headwinds." Chairman Ryu said, "The government and the business community united closely to respond to U.S. tariff policies," and added, "We not only worked to lower tariff barriers but also opened new horizons for cooperation in strategic industries such as shipbuilding." He also emphasized that Korea has emerged as a key pillar in the global supply chain, particularly in strategic industries like semiconductors, shipbuilding, and defense, equipped with trust, technology, and openness.

The Korea Economic Association announced its commitment to presenting a new path for Korea’s economic growth. Chairman Ryu said, "We will propose institutional innovations to enhance competitiveness in new growth sectors such as AI, and present a future strategy roadmap that requires collaboration between the public and private sectors." He continued, "By communicating extensively with the government, industry, and domestic and international experts, we will become a hub for new growth strategies and a platform for redesigning the industrial system."

He also pledged to take the lead in realizing "a Korea where everyone grows together." Chairman Ryu stated, "We will create and implement a blueprint for building a scaling-up ecosystem where today’s ventures and startups can grow into tomorrow’s national leading enterprises," and added, "We will identify a variety of policy tasks to ensure the warmth of growth reaches every corner of society and to restore the livelihood economy."

Finally, he stressed his commitment to leading Korea’s leap to become a global leading nation. He said, "This year marks the 30th anniversary of Korea’s accession to the OECD (Organisation for Economic Co-operation and Development)," and continued, "Now, as a key country in the Asia-Pacific economic order, Korea must take the lead in setting global standards for AI, digital, and green industries." He also announced plans to further strengthen partnerships with major countries such as the United States and Japan to respond swiftly to changes in the global trade order.