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July 2019

KOREA

Current Korea  ·  Written by Sohn Ji-ae   Photo courtesy of Cheong Wa Dae

Inclusive & Innovative
Cooperation

Korea and the three Northern European countries where President Moon Jae-in
recently visited—Finland, Sweden and Norway—are on the same wavelength about
pursuing his vision of inclusive and innovative growth to revitalize the economy and
establish peace on the Korean Peninsula.

President Moon Jae-in on June 13 shakes hands with Norwegian Prime Minister Erna Solberg in a joint news conference after their summit in Oslo, Norway.

The annual Bloomberg Innovation Index ranks countries based on factors related to innovation in technology, including expenditures on R&D and the number of research personnel and patents. By topping the latest index released this year, Korea holds the title of the world¡¯s most innovative nation.

Calling Korea a ¡°six-time champion,¡± Bloomberg said, ¡°Korea¡¯s staying power at No. 1 should receive a boost from fresh investments in strategic technologies and a regulatory program that encourages startups.¡±

President Moon Jae-in, who considers ¡°innovative growth¡± a core policy to revitalize the sluggish Korean economy, thus aptly chose Finland, Sweden and Norway as the destinations for his recent 8-day tour of Northern Europe. The three all have innovative economies ranked in the top 20 of the Bloomberg index, with Finland third, Sweden seventh and Norway 17th.

During his trip, the president signed a combined 38 memorandums of understanding with the three countries mainly on new growth areas such as smart shipping, information and communications technology, the hydrogen economy and innovation. These deals will accentuate Korea¡¯s cooperative partnerships with the trio in leading innovation.

President Moon Jae-in on June 10 visits Otaniemi, a district in Espoo, Finland, known as the ¡°Silicon Valley of Europe.¡±

President Moon also seeks to partner up with the three countries in building an ¡°inclusive nation.¡± Finland, Sweden and Norway are known to use an ¡°inclusive model of growth and development¡± that promotes high living standards for all. According to the 2018 Inclusive Development Index of the World Economic Forum, which measures a country¡¯s economic performance through indicators of employment, income and wealth inequality, Norway was first, Sweden sixth and Finland 11th.

On other social issues, President Moon and the leaders of the three nations pledged to share their experiences in and policies toward the rapid aging of society, gender and wealth inequality, and work-life balance under his belief that Scandinavian knowhow in these areas will help Korea build an inclusive nation.

Trust Building in Peace Process

To secure Nordic support for his inter-Korean peace initiative, President Moon took full advantage of his three-nation tour to Northern Europe, giving speeches at the Oslo Forum in Norway and to the Swedish parliament in Stockholm.

In his speeches, the president stressed the need for building mutual understanding and trust between the peoples of both Koreas and emphasized dialogue. ¡°What we need now is the deepening of mutual understanding and trust. With this as a foundation, we must further strengthen our will for dialogue,¡± he said.

He also mentioned ¡°peace for the people,¡± saying the inter-Korean peace process must be a good thing that improves quality of life for people on both sides of the Korean Peninsula who have long suffered because of national division.

President Moon urged North Korea to show to the world its commitment toward dismantling its nuclear weapons for the sake of establishing a peaceful peninsula. He also asked Pyeongyang to build peace from the inside and confirm it by expediting inter-Korean exchanges and cooperative projects previously agreed to by both sides.

President Moon Jae-in on June 12 answers questions about the inter-Korean peace process during the Oslo Forum in Norway.

Strength in Unity

Since World War II, the three Nordic countries have achieved rapid economic growth and created many jobs through a comprehensive system of innovation and inclusiveness in policy. The results of their efforts are that they are now considered the world¡¯s most innovative and happiest countries.

Developing efficient and symbiotic cooperation with the three is expected to speed up President Moon¡¯s goal of building an inclusive and innovation nation and achieving peace on the Korean Peninsula.

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