The Korea Times
President Lee Jae Myung called for bold innovations and structural reforms Thursday to address changes to the geopolitical landscape amid the war in the Middle East. Lee made the remarks during a meeting with senior aides as the United States' war against Iran entered its seventh week, sending energy prices soaring and disrupting global supply chains, dealing a blow to the Korean economy that heavily relies on trade and manufacturing. "The global trade order is at a critical turning point amid the decline of free trade and intensifying geopolitical risks," he said. "For a country like ours with a heavy reliance on manufacturing, we must undertake bold and transformative innovation with the nation's future at stake." Lee instructed the government to protect advanced technologies and talent and to create demand for innovative products through public-sector initiatives and accelerate preparations for a sovereign fund. "We should innovate regional manufacturing capabilities, establish an artificial intelligence-based manufacturing ecosystem and set up a Korean-style sovereign wealth fund," h
Go to News Site