Future industries of the Korean Peninsula to secure future national competitiveness.

Future Industries of the Korean Peninsula

The Korean Peninsula has achieved remarkable economic development, often referred to as the “Miracle of the Han River.” However, current Korea is losing the momentum of its past growth and faces pressure from both leading and emerging economies. It is necessary to foster new future industries that can overcome the current crisis and secure competitiveness.

To this end, it is essential to anticipate future society and foster future industries. The "future creative industry" that creates something that do not exist now but will be indispensable in the future, the "world leading industry" to secure competitiveness in the upcoming future digital era, and the "identity-based industry" that can be specialized and developed based on the characteristics of the Korean Peninsula should be considered as the main candidates for future industries.

Once the future industries are selected, fostering and deployment plan should be devised under the consideration of the roles of the central and local governments, the role of the city, the creation of a city+industry+academia converged city creative platform, and the necessary infrastructure. Priority should be given to local small cities with low costs and high efficiency, rather than the already overcrowded metropolitan areas with high cost and low efficiency. This approach should focus on securing future competitiveness, rather than political considerations.

Securing future competitiveness of the Korean Peninsula requires fostering and deployment strategy for future industries. Through this strategy, the Korean Peninsula should be upgraded to a first-class society.