Diplomacy Journal Kim Tae Yeon  |  On June 23rd, President Lee Jae-myung stated, “We must foster a new growth engine for K-industry comparable to semiconductors,” presenting the nurturing of future strategic industries such as robotics, aerospace, K-Bio, and K-Defense as a core national task.

Presiding over the 27th Cabinet Meeting and the 12th Emergency Economic Review Meeting held at Cheong Wa Dae on this day, President Lee stated, “Through the recent Middle East war, we were able to confirm the vulnerabilities of our economy,” adding, “We must strategically diversify energy and raw material supply chains and accelerate the transition to a renewable energy-centered energy mix and a plastic-free circular economy.” He continued by emphasizing, “The Republic of Korea must leap forward as an irreplaceable powerhouse in industries with a super-gap,” adding, “We must actively foster future growth engines beyond semiconductors, such as robotics, aerospace, biotechnology, and the defense industry.”

“Supporting a Great Industrial Leap Forward Through Bold Administrative Innovation”
President Lee also emphasized the importance of administrative innovation alongside strengthening industrial competitiveness. He stated, “Over the past year, the basic direction and principles of administration that the government should pursue have been sufficiently established,” adding, “Over the next four years, we must meticulously fill in the details of national governance innovation and systematize them.”

He further stated, “We must break away from an outdated administrative culture that settles for existing inertia and practice meticulous administration,” noting, “The important thing is to institutionalize the results of innovation rather than letting them remain a one-off event.”

“Youth Are the Most Excluded… We Must Widen the Ladder of Opportunity”

President Lee also called for the expansion of support policies for youth. He diagnosed, “Behind the achievements of the semiconductor boom and stock market growth lies the shadow of asset polarization,” adding, “In particular, the younger generation faces a reality where opportunities for asset formation through stable jobs and income are lacking.”

He continued by emphasizing, “While there is no magic formula to solve youth issues all at once, consistent efforts are needed across overall policies to provide more opportunities for young people.”

Regarding the Youth Future Savings Plan, for which applications recently began, he urged, “Please ensure thorough promotion and management so that it can provide substantial assistance to young people in forming stable assets.”

Furthermore, he ordered prompt preparation and swift implementation of policies that expand the ladder of opportunity across all aspects of young people’s lives, including employment, asset formation, entrepreneurship, and housing.

Criticism of NEC’s Poor Operation… “Need to Identify Responsibility”
President Lee also addressed the recent controversy regarding the National Election Commission’s poor election management.

He pointed out, “The NEC is an independent body under the Constitution, making it difficult for the government or the National Assembly to routinely control or manage it,” noting, “It appears that many internal problems have occurred during this process.” He continued by emphasizing, “Since an unacceptable incident occurred at a core institution symbolizing South Korea’s democracy, swift measures are necessary,” adding, “Any criminal issues must be thoroughly investigated to hold those responsible accountable.”

Sharing Achievements of G7 Tour… “South Korea’s Status Has Elevated”
President Lee also introduced the achievements of his recent European tour and his attendance at the G7 Summit. He stated, “I have personally felt that the international community’s perspective on South Korea has changed significantly compared to my overseas tour a year ago,” noting, “Many countries are showing deep interest in Korea’s high-tech industries and are requesting joint investment and the attraction of industries.”

Regarding the defense industry in particular, he explained, “Heads of state from various countries showed keen interest in Korea’s air defense systems and defense technology and requested expanded cooperation.”

He also conveyed, “The whole world is astonished by the resilience of South Korean democracy,” adding, “They highly appreciate how the people are overcoming crises in a peaceful and mature manner, even amidst difficult circumstances.” President Lee stated, “We ourselves need to take pride in the Republic of Korea,” adding, “As we resolve the various remaining issues, we will be able to develop into a model nation that the world takes notice of.”