The 9th Digital Economy Forum, hosted by the Ministry of Finance and Economy (MOFE) and organized by the Korea Startup Forum, was held at the Grand Hyatt Seoul on October 23.
Held annually since 2018, the Digital Economy Forum brings together experts from the public and private sectors to exchange views on trends, prospects, and policy responses related to the digital economy. This year’s forum was held under the theme “AI for Growth, Growth for All.”
In his opening remarks, First Vice Minister of Finance and Economy Kwon Dae-young emphasized that the time has come for Korea to take the lead in the AI era and outlined three key policy directions for creating new growth engines through AI and promoting inclusive growth.
First, he announced plans to significantly increase the budget for physical AI from KRW 0.9 trillion this year to KRW 3.1 trillion next year to accelerate productivity innovation in manufacturing and robotics. Second, the government will integrate AI into seven SEED projects, including advanced biotechnology, small modular reactors, quantum technology, and aerospace, to identify and foster new growth engines beyond semiconductors. Third, the government will strengthen support for AI education to ensure that no one is left behind in the AI era, while working to narrow disparities across generations, regions, and businesses through housing, employment, and financial policies.
In his welcoming remarks, CEO of the Korea Startup Forum Choi Ji-young highlighted that startups have been at the forefront of digital economy innovation by embracing new technologies and pioneering new markets. He also spoke highly of the global competitiveness and growth potential of Korean startups. Emphasizing the importance of cooperation among the government, academia, and businesses so that the benefits of AI-driven growth can be shared by companies, citizens, and regions alike, he expressed hope that the forum would serve as an opportunity to connect policy with innovation on the ground.
The forum also featured four panel discussion sessions in which experts from the public and private sectors in Korea shared their experiences and discussed possible responses in four areas: (1) enhancing productivity and competitiveness through AI transformation in traditional manufacturing industries; (2) identifying next-generation growth engines beyond semiconductors and fostering emerging industries; (3) responding to changes in the job market in the AI era and strengthening AI capabilities across all generations; and (4) building AI-driven regional innovation ecosystems and developing strategies for regional growth.
This year’s forum also introduced a new AI startup pitching session, providing promising Korean startups using AI in various fields, including manufacturing, biotechnology, and education, with an opportunity to present their innovative technologies and business models and showcase their technological capabilities and growth potential.
Going forward, MOFE plans to closely monitor domestic and international developments in AI and the digital economy and actively explore relevant policy measures based on the views shared by experts at the forum.
Please refer to the attached files.
