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Seminar on K-beauty, bio-pharmaceutical industry
In cooperation with Chungcheongbuk-do, FKI hosted a seminar on developing K-beauty and the bio-pharmaceutical industry on August 30 at Ramada Plaza Cheongju.
FKI Vice Chairman Seung Cheol Lee stressed that having a great competitive edge, K-beauty and the bio-pharmaceutical industry could be new growth engines which will be able to dominate global markets. "With Korea not being sufficiently endowed with tourism resources, K-beauty could be the best experience-oriented tourism product together with medical (plastic surgery) tourism and shopping tourism," he also asserted,
The seminar was attended by 100 corporate executives and officials from the local government, including Vice Governor Mun Sik Seol, Vice Chairman Lee and President of Chungbuk Technopark Foundation Chang Hyun Nam.
Forum for developing car tuning industry
FKI and Jeollanam-do jointly held a forum on August 23 to seek ways to develop the car tuning industry, one of the nation's future growth engines, at the Premium Automotive R&D Center located in the Formula One (F1) circuit in Yeongam, Jeollanam-do.
Overcoming current economic difficulties rests on how to cope with them at this time of industrial structural transition, FKI Vice Chairman Seung Cheol Lee stressed in his keynote speech, citing the car tuning industry as a shining example.
The government has been pushing for deregulation of the car tuning industry in many ways for two years since it disclosed a policy to boost the industry in 2014, Vice Chairman Lee said. He pointed out, however, the very stumbling block to its grow is administrative regulation which needs to be drastically and immediately alleviated.
Debate on food industry development strategies
In cooperation with Jeollabuk-do, FKI held a debate titled 'Development Strategies for the Food Industry --- Korea's Future Growth Engine' at Jeonbuk Provincial Office on July 26. The event was the first one of planned national debates with local governments to foster new industries that FKI disclosed on July 11.
"Unlike search goods including apparel or furniture that consumers decide to buy on their appearance, food is an experiential product which can be evaluated only after consuming. So what matters most is consumer trust in producers and goods," FKI Vice Chairman Seung Cheol Lee stressed in his keynote speech.
Since trust in our food should be a major determinant to satisfy great potential demand from abroad including China, I hope Jeonbuk will be in the forefront of building confidence in our food, he added. At the same time, the vice chairman stressed a need to transform the perception of food from the traditional or domestic industry to the high-tech, future export industry.
FKI and Jeollabuk-do plan to work closely on programs to foster the food industry in the days to come, expand the infrastructure and induce investment for a national food cluster.
The debate was attended by over 100 dignitaries, including Vice Chairman Lee, Jeonbuk Governor Ha Jin Song, lawmakers, officials from research institutes and professors.
FKI kicks off round of debates on new industries
FKI held an inauguration ceremony to kick off a round of national debates to foster new industries at the FKI Tower Conference Center on July 11.
In his welcome address, FKI Chairman Chang Soo Huh said, "Expansion of budget and money is not enough to overcome the current economic crisis. A policy shift is needed to create more jobs through boosting new industries." "To explore new industries which would be prime movers of our industry, we will be holding a series of debates with local governments in the second half of this year," he added.
In debates, FKI will focuses on a policy of supplying new industries. With a drop in consumption and investment, the economy has already found itself in a stage bordering on a crisis since the 1990s, but government expenditures and exports have managed to keep the economy alive and now we are facing a de facto crisis of fundamentals, FKI diagnosed. Since such myopic programs as a supplementary budget might not be enough to successfully reinforce economic fundamentals, it asserted, a drastic shift in policies toward supplying new industries is a must. We need to concentrate national efforts on exploring new industries like Singapore and the U.S. with a per capita income of over $50,000 and higher economic growth rates than Korea's.
FKI plans to make recommendations to the government and the National Assembly for institutional improvement based on the results of the upcoming debates, while working closely with local governments to solidify industrial bases.
Freedom and Creativity Institute observes 2nd anniversary of foundation
The FKI Freedom and Creativity Institute held a luncheon meeting at the FKI Tower Conference Center on June 27, celebrating the second anniversary of its opening. The institute aims at helping opinion leaders and ordinary citizens get a better understanding of the economy. The event was attended by 90 dignitaries, including author Geo Il Bok and Chairman Dong Han Yoon of Kolmar Korea who are on the faculty of the institute and Seung Hwan Kim, President of the Korea Foundation for the Advancement of Science and Creativity (KOFAC).
President Byung Rak Song of the institute said, "Still many people are not fully aware of the market economy. Championing the values of basic constitutional principles of free democracy and the market economy, the institute is committed to helping every citizen properly learn the economy to diffuse rational economic thinking and a positive perspective of enterprises."