The Korean stock market is pushing for inclusion in the MSCI Developed Market Index to overcome the ‘Korea Discount’.
The government plans to improve the structure of the foreign exchange and capital markets and establish an advanced investment environment.
If inclusion is decided next year, index-tracking funds are expected to flow into the country around 2028.
President Lee Jae-myung predicted that this year’s economic growth rate would be around 2%.
He emphasized at the National Economic Growth Strategy Report Meeting that all citizens should share the fruits of growth.
He also addressed youth issues, recognizing them as a national crisis and calling for special measures.
The government aims to achieve a 2.0% economic growth rate by investing a super budget of 727.9 trillion won.
The strategy focuses on four main areas: macroeconomic management, potential growth rate rebound, balanced national growth, and strengthening the foundation for a great leap forward.
It includes various support measures to elevate key industries such as semiconductors, defense, and artificial intelligence to global leadership.
President Lee Jae-myung is scheduled to visit Nara, Japan from January 13 to 14.
The visit will include a summit with Prime Minister Takaiichi and various other engagements.
The two leaders aim to strengthen their bond and trust while discussing various cooperation measures.
The Ministry of Science and ICT (MSIT) will prioritize the allocation of over 4,000 advanced GPUs, including 2,296 H200s and 2,040 B200s, to industry, academia, and research institutions from the 13,000 GPUs secured this year.
This initiative aims to support AI research, development, and the creation of innovative services, with a call for project proposals open until January 28, 2025, via an online platform (AIinfrahub.kr).
Academic and research institutions can use them free of charge, while the industry (SMEs, startups) will pay 5-10% of market price, with preferential treatment for regional companies and additional reviews for large-scale projects.
Kim Ji-hyung, Chairman of the Economic, Social and Labor Council (ESLC), held a meeting with POSCO and subcontractor labor-management representatives in Pohang to discuss overcoming the steel industry crisis.
The discussion aimed to address complex challenges like global oversupply and carbon neutrality, seeking solutions through win-win cooperation between main contractors and subcontractors and social dialogue.
Chairman Kim emphasized dialogue and cooperation over conflict, and the ESLC plans to continuously review the possibility of promoting social dialogue in the steel sector and extend discussions to other crisis-hit industries.