Minister of Science, ICT and Future Planning Choi Mun-kee met with Johann Schneider-Ammann, the head of Switzerland’s Federal Department of Economic Affairs, Education and Research, on Monday to discuss Korea’s creative economy initiative.

Welcoming the 25 delegates from the Alpine nation, Minister Choi sought much advice from them.

“I would like to learn the know-how of maintaining stable economic growth despite the sluggish world economy and even outperforming those in other European nations,” Minister Choi said. “Korea hopes to share the vision of creative economy proclaimed by the new administration of Korea.”

He also praised Switzerland’s innovative economic strategies that have enabled the European nation to successfully weather the economic downturns and to become a world economic power.

The meeting was aimed at celebrating the 50th anniversary of ties between Korea and Switzerland and promoting exchange and cooperation in science technology.

“The Swiss delegation visits Korea to build an academic and business network and form a win-win relation between the two nations,” Schneider-Ammann said.

Citing the geoeconomic similarities between the two nations as they are both surrounded by world economic powerhouses, the Swiss minister emphasized the importance of collaboration among small and medium-sized firms and huge conglomerates in creating the foundation of the innovative economy and maintaining economic development, even in difficult times.

Landlocked in south-central Europe at just half the land size of Korea, Switzerland remains one of the most innovative nations in the world with a low unemployment rate of 3 percent.

The European nation also topped lists measuring innovation and economic competitiveness such as the 2013 Global Innovation Index publicized by the World Intellectual Property Organization and the Global Competitiveness Report by the World Economic Forum.

Switzerland invests 3 percent of its GDP into research and development, with around half of government financial aid going to basic project funds and 20 percent to young researchers and business start-ups, according to data presented by the Swiss National Science Foundation.

Agreeing with the European nation’s direction of R&D policies, Choi said the Korean government will let the private sector take the helm in leading the creative economy initiative.

“The government will also increase funds for basic research to 40 percent and set up outposts to promote exchange in science and technology at consulates in other nations including the one to Switzerland,” Choi said.

On Tuesday, the Swiss delegation will visit prominent Korean universities Tuesday including Korea Advanced Institute of Science and Technology in Daejeon.

The two counterparts will further discuss bilateral cooperation at a joint committee meeting for science and technology in November.

By Kim Young-won  (wone0102@heraldcorp.com)