The Ministry of Strategy and Finance, along with the National Economic Advisory Council and the National Science and Technology Advisory Council, has begun formulating a long-term national development strategy aimed at 2045. The strategy will address challenges such as artificial intelligence (AI), climate and energy transition, demographic changes, and the restructuring of supply chains and international order, while seeking to enhance both growth and the quality of life for citizens.
On September 16, a joint seminar titled '2045 Long-term National Development Strategy and Partnership with Future Generations' was held at the Fairmont Ambassador in Seoul.
Park Hong-geun, Minister of Strategy and Finance, stated in his opening remarks, "AI, climate and energy transition, demographic changes, and the restructuring of supply chains and international order are all occurring simultaneously," emphasizing the need for a national-level response. He also noted the widening gaps in growth potential among industries, businesses, regions, youth, and older generations, as well as disparities in income and assets.
Minister Park outlined three key directions for South Korea by 2045: a 'South Korea that continues to grow through innovation,' a 'South Korea where innovation benefits the lives of its citizens,' and a 'South Korea that the world trusts and wants to collaborate with.'
To achieve these goals, he stressed the importance of increasing investments in AI, advanced technologies, and talent, while addressing regulatory and institutional bottlenecks to secure new growth drivers. He highlighted the need for proactive investment in strategic technologies related to future industries such as energy, quantum, advanced biotechnology, and aerospace, as well as focusing national research and development capabilities in these areas.
During the seminar, proposals were made to expand economic and social participation for youth and future generations.
Kim Mi-ru, head of the Macroeconomic and Financial Policy Research Department at KDI, suggested that a national development strategy should enhance productivity and industrial competitiveness, leading to stability in jobs, education, housing, and care. She proposed five key transitions: life, innovation, space, generations, and national roles, and called for a reform of the financial system to align with changes in demographics and economic structure. She also emphasized that financial management should focus on the effectiveness of policy solutions and cost efficiency rather than merely the scale of financial input.
In the comprehensive discussion, participants agreed on the need to provide research experience to youth through national research and development projects and to expand opportunities for first career formation through collaboration among businesses, government, and universities. There were also suggestions for the state and society to share the costs of initial learning and experience for youth, and to link technology and industrial policies with education, employment, and regional policies.
Lee Kyung-soo, vice chairman of the National Science and Technology Advisory Council, stated that the process of AI transition should involve designing pathways for technological advancement and talent development together, asserting that national research and development should support not only the development of advanced technologies but also the first research experiences and career formation for the next generation.
Kim Sung-sik, vice chairman of the National Economic Advisory Council, emphasized that the partnership with future generations should not be limited to youth-targeted policies but should allow future generations to directly participate in a long-term national development strategy that includes innovation, inclusivity, human capacity, and quality of life.
The Ministry of Strategy and Finance plans to incorporate the suggestions made during the seminar into the future establishment of the 2045 long-term national development strategy.
* This article has been translated by AI.
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