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President Park highlights 'creative economy' at World Economic Forum Updated: 2014-01-23 14:39:06 KST

President Park highlights 'creative economy' at World Economic Forum
President Park says the so-called "creative economy" will be the driving force in [quote] "reshaping the world," the theme of this year's World Economic Forum in Davos.
In her opening speech at the first session of the global event, President Park pointed to entrepreneurship as the key to realizing a creative economy, together with creativity.

"We have a saying in Korea: 'Beads are not considered jewelry unless they are woven together.' Entrepreneurship is what weaves together the beads of creative ideas into new markets and into new jobs."

The president introduced Seoul's efforts to work towards a creative economy, such as setting up online and offline platforms and a public-private task force to help creative ideas develop into businesses.
She vowed to ease any regulations that stand in the way of convergence and the creation of new industries, by capping the total volume of regulations and presiding over a ministerial meeting to oversee such efforts.
The creative economy, President Park says, could lay the path to overcoming three major challenges facing the world: low growth, high unemployment and income disparities.

"Through start-ups and the innovation of existing businesses, a creative economy can generate new engines of growth and can grow jobs. There will also be less income inequality since anyone with a great idea can live out one’s dreams by starting a business."

When asked about concerns about the costs of reunification, an issue that keeps foreign investors from pouring money into South Korea, President Park said that reunification would be a jackpot, not only for the two Koreas, but also for neighboring countries.

"Should the two Koreas reunify, there will be extensive investment in the North especially centered around social overhead capital, and such investments will spread to neighboring nations."

She explained that the investments would boost other projects in, for example, China's three northeastern provinces and Russia's Maritime Territory.

"A notable and unexpected guest in the front row during President Park's speech was Japanese Prime Minister Shinzo Abe. Many wondered whether the two leaders would meet or have a brief talk, but they did not.
Eoh Jin-joo, Arirang News, Bern."
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