Shortcut Content

Why Seoul?

Domestic financial industry

Domestic Financial Environment

Seoul Financial Hub

Alerts / News

Seoul Financial Hub photo Seoul Financial Hub photo
Seoul Financial Hub

Seoul Financial Hub

HOME

Seoul Financial Hub programs

서울시 서울시 서울시
  • Subject Seoul Metropolitan Government, Invest Seoul
  • Venue One IFC 16F
  • Contents

Hello,
This is the Seoul Financial Hub.
We would like to share the key points from the fifth Financial Booklunch that took place on September 6th.
Please find the details below.
[Unsustainable Korea] by Professor Sangin Park**
"Korea's economic crisis, the task for innnovation and the analysis of Korea's industrial structure"
-Date and Time: Friday, September 6th, 2024, 11:20 AM - 12:50 PM (1 hour 30 minutes)
-Location: Seoul Financial Hub (16F, IFC One Tower, 10, Gukjegeumyung-ro, Youngdeungpo-gu, Seoul, Republic of Korea)


A Lunchtime Session for Filling Yeouido Office Workers with Financial Knowledge 2024 SFH Connect Financial Book Lunch Expert in economic policy Professor at Graduate School of Public Administration, Seoul National University Ph.D. in Economics at Yale University Former Member of the Public Opinion Concentration Survey Committee Former Visiting Professor at the Department of Economics, Yale University Analysis of Korea's Industrial Structure in the Economic Crisis and Structural Reform Priorities `This way, we cannot achieve a sustainable society. The economic structure must change to reduce the wage gap between small and large businesses. Only when small business employees can work continuously until retirement and receive pensions will we become a country that changes. That's how we become a normal country, and a sustainable one.` From Park Sangin's lecture The 3+1 Dilemmas Leading to Korea's Crisis The Declining Manufacturing Rate: A Warming for the Korean Economy The Gap between Large Corporations and SMEs: The Shadow of Social Polarization The Challenge of Carbon Neutrality and its Feasibility
The 3+1 Dilemmas Leading to Korea's Crisis The Declining Manufacturing Rate: A Warming for the Korean Economy The Gap between Large Corporations and SMEs: The Shadow of Social Polarization The Challenge of Carbon Neutrality and its Feasibility The 3+1 Dilemmas Leading to Korea's Crisis Manufacturing Crisis Declining growth rate in the manufacturing sector Export growth rate lower than the OECD average Social Polarization Wage gap between large corporations and small businesses Low birth rate and aging population Carbon Neutrality Issues High carbon emissions in key industries Conflicts with carbon neutrality policies De-globalization and the U.S.-China Hegemonic War Restructuring of the global supply chain Korea's economic position at risk “Currently, I believe we are facing three major challenges, or '3+1' dilemmas: the manufacturing crisis, social polarization, issues surrounding carbon neutrality and the implementation of RE100, and, internationally, the restructuring of global supply chains due to de-globalization and the U.S.-China hegemonic war.” The Declining Manufacturing Rate: A Warming for the Korean Economy Key Issues ① The boom in the ICT industry is gradually fading. ② Competition with China's low-value-added product sectors. An industrial structure focused on final products and general goods driven by price competitiveness. There is a need for a shift and evolution toward high-value-added specialized products. `Since 2011, our export growth rate has fallen below the OECD average. It's been dropping sharply. You might ask, “What's happening?” Well, it’s like pouring water into a cup, and now the cup is overflowing. The issues that have always been there are now becoming apparent.`
4. The Challenge of Carbon Neutrality and its Feasibility Economic Growth Rate = Carbon Productivity Growth Rate - Carbon Reduction Rate Korea is characterized by very high carbon emissions in the industrial sector Korea aims to reduce its carbon footprint by 40% from 2018 levels by 2030 and become carbon neutral by 2050. The steel industry has high carbon footprint. As steel is a commodity, price competitiveness is essential. Introducing technology to reduce carbon emissions could weaken price competitiveness. Technological innovation and RE100 industrial clusters are necessary `If we do not reduce carbon emissions, we will face severe international penalties in the future. Institutional preparations, such as the introduction of a carbon tax, are required.`
 

List

SNS 공유하기를 카카오톡, 카카오스토리, 페이스북, 트위터로 구분한 표