President Moon Jae-in said on October 11, "We plan to introduce a `regulated sandbox` in the new industrial sector, which is the foundation of the fourth industrial revolution, so that we can start and operate without regulation for a certain period of time."

"President Moon has attended the opening ceremony of the 4th Industrial Revolution Committee, at the SFA-S-Flex Center in Mapo-gu, Seoul." Young people with new technologies and ideas should become innovative." He said. "We will strengthen the financial system and improve the unfair trade so that the companies can receive the necessary support at each growth stage." He also added.

President Moon directly presided over the first meeting in line with the commissioning of the committee, and showed his commitment to promote the special attention and focus. The Fourth Industrial Revolution Committee, together with the Ministry of Small and Medium Business Administration, is the core control tower that will lead the new government`s economic policy "innovation growth."

Meanwhile, President Moon once again emphasized the "people - focused economy" of the new government economy, highlighting the importance of the 4th Industrial Revolution for Innovation Growth Policy and presenting a blueprint.

"The people-focused economy has three main pillars: job and income-led growth, innovation growth and fair economy. Among them, innovation growth is a key strategy for the new government along with income-driven growth. "There have been quite a lot of discussions about income-led growth and the fair economy, and we have reflected the budget appropriately for the future growth of innovation, but there has been no active discussion.”

President Moon also presented policies related to the Fourth Industrial Revolution, which will be the foundation of innovation growth. We will upgrade the mobile communication network and the Internet of things in the information communication network and promote investment and expansion of investment in AI, IOT and Big Data, the basic framework of the 4th Industrial Revolution.

Besides, it is planned to focus on areas that will lead the fourth industrial revolution such as autonomous vehicles, smart factories, and drone industries, and plan to create smart cities based on intelligent infrastructure and eco-friendly energy.

It also announced plans to create an innovative ecosystem that will lead to the creation of convergence talents and software education, as well as the creation of new businesses and new industries.

The first meeting was attended by 25 members of the 4th Industrial Revolution Committee, including five members of the government and 20 civilian members, including the Ministry of Science and Technology, Ministry of Commerce, Industry and Energy, the Minister of Employment and Labor, the Deputy Minister of Small and Medium-Sized Ventures.


By Park Mee Yeong mypark@


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