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Acting president cautions against negligence in investing for the future
By KH디지털2Published : Feb. 15, 2017 - 12:35
Acting President and Prime Minister Hwang Kyo-ahn on Wednesday cautioned against any negligence in investing for the future, underscoring the need for South Korea to capitalize on its technological edge to nurture new growth engines.
During a joint session held by the Presidential Advisory Council on Science and Technology, and the state science and technology strategy panel, Hwang also reiterated that the government has to further strengthen support for startups through a policy initiative that covers all stages of their growth, including research and development.
"Since the (2008) global financial crisis, the world economy has entered the 'new normal' era of low growth, and our economy has also been suffering a lot due to the difficulties facing our mainstay industries and the emergence of trade protectionism,"Hwang said.
"But as there is a saying, 'crisis is an opportunity,' we should not be negligent of investing for the future, particularly at this juncture," he added.
Hwang cited science and technology as the centerpiece of the country's efforts to overcome economic challenges and create future growth dynamos, calling on industries to pursue the convergence of cutting-edge technologies to sharpen their global competitiveness.
The acting president, in addition, called for "boldly" improving regulations related to the use of the big data, noting the need for local firms to harness the increasingly crucial technology to brighten their business prospects.
"The importance of the big data has been increasing day by day in intelligence and information-based societies," Hwang said. "It is anticipated that the success of companies or a country will hinge on the ability to use big data." (Yonhap)
