The annual Consumer Electronics Show, the world¡¯s largest technology trade fair, on Jan. 7 unveiled the tech trends for 2020. From futuristic mobility and digital healthcare to artificial intelligence (AI) and the fifth-generation (5G) mobile communication standard, all technologies unveiled at the four-day show in Las Vegas sent the same message to businesses around the world: Technology is the way to survive and achieve success in the era of the Fourth Industrial Revolution.

The Korean government also seeks to further spread ¡°innovationfueled momentum¡± across the domestic economy through cutting-edge technologies such as 5G wireless services, which the nation was the first in the world to commercialize, and electric-powered and hydrogen-fueled vehicles.

President Moon Jae-in, in giving his New Year¡¯s address on Jan. 7, was well aware that securing advanced technologies would give his nation a competitive edge in global markets. ¡°Innovation¡± was one of four keywords — along with inclusiveness, fairness and peace — representing the policies and measures his government will adopt and pursue this year.

¡°We will foster three new industries: system semiconductors, biohealth and future cars. In addition, we will expand investments in sectors such as data, networks and AI to bolster the foundation for the Fourth Industrial Revolution,¡± the president said.

Active investments and proper strategies are the pillars to firmly prop up the foundation for this plan. To foster new industries this year, the government has pledged to focus more on improving policy, research and development (R&D), taxation systems and infrastructure development.

The government budget for R&D this year is a record-high KRW 24.2 trillion, up 18% from last year¡¯s amount. The four key R&D tasks are bolstering science and echnology capabilities, enhancing economic vitality, investing in innovative growth strategies and improving quality of life. Small and mid-sized businesses related to basic research and R&D will also receive more aid.

Priority on Inclusivity and Fairness

President Moon Jae-in on Jan. 7 delivers his New Year¡¯s address at Cheong Wa Dae. © Yonhap News

Last year, Korea ranked seventh worldwide in exports with USD 1 trillion for the third consecutive year and a trade surplus for 11 straight years. Now, Korea aims is to join the ranks of the world¡¯s top four exporters by 2030.

President Moon, however, stresses making the country ¡°more inclusive and fair¡± before achieving economic growth and innovation. As the first step toward this goal, the minimum wage this year was raised to KRW 8,590, up from KRW 8,350 last year. The hike applies not only to regular employees but also to foreign laborers, temporary staff, day workers and those paid based on hours.

In addition, the government will maintain the momentum for job creation from last year, when a record-high 280,000 jobs were created, through a set of measures to include comprehensive and customized services for early retirees and jobseekers; simultaneous parental leave for both parents; monetary assistance to marginalized workers such as women, recent college grads and the elderly; and strengthening of the employment safety net and guaranteed medical insurance.

Last But Never Least

Though not mentioning North Korea until late in his New Year¡¯s address, President Moon has always considered inter-Korean issues as the centerpiece of his diplomacy since taking office.

Under his leadership, the world witnessed historic events last year including a surprise encounter of the leaders of both Koreas and the U.S. at the U.N. truce village of Panmunjeom in the Demilitarized Zone.

Developments seen on the road to peace have raised expectations and hopes for a peaceful and united Korea.

Noting that this year marks the 20th anniversary of the June 15 North-South Joint Declaration between the two Koreas, the chief executive laid out three principles to adhere to for peace: zero tolerance for war, mutual security guarantees and common prosperity.

¡°There are things that can be accomplished through inter-Korean cooperation,¡± he said, urging both Koreas to hold dialogue this year.

President Moon also invited North Korean leader Kim Jong Un to visit Seoul, something the latter failed to do last year.