The Second Northeast Asia Economic Forum on Korea as an Economic Hub for Northeast Asia

President Lee made presentation on IT Strategy of the East Asian Economies

“Regional IT Market Integration and Choice and Concentration”

KISDI President John H. Lee attended the 2nd Northeast Asia Economic Forum on Korea as an Economic Hub for Northeast Asia, which was held in CCMM Building in Yeido on June 9, 2004. President Lee made a presentation on IT Strategy of the East Asian Economies and had an in-depth discussion with other participants.

The 2nd Northeast Asia Economic Forum was co-hosted by the Northeast Asia Economic Forum (Chairman: former Deputy Prime Minister and Minister of Finance and Economy Jin Nyam) and Digital Times with a theme of Peace and Stability of Northeast Asia. Participants examined East Asian economic changes including the so-called "China Impact" and discussed the Korean government's strategy to develop Korea as an Economic Hub for Northeast Asia and ways to promote cooperation among East Asian countries in finance, IT, and logistics.

President Lee attended the second Northeast Asia Economic Forum on Korea as an Economic Hub for Northeast Asia. He served as both chair and presenter for the 5th session.

President Lee served as both chair and presenter for the 5th session on IT Strategy of the East Asian Economies. Discussants were Seoul National University Management Department Professor Joong-ho Ahn, President of the Korea Network Information Center Kwan-ho Song, and President of the Hyundai Research Instritute Joo-hyun Kim.

In his presentation, President Lee said, "IT trading volume among Korea, China, and Japan has increased from 15.1 $billion in 1998 to $54.2 billion in 2003. This shows that the regional market is increasingly being integrated." He emphasized IT collaboration of the Northeast Asian region by saying that Japan needs to move production base abroad due to increasing production costs while China needs help from Korea and Japan in order to develop its IT industry and build IT infrastructure.

Participants discussed policies on technology standardization, 3G, next generation internet, digital TV, open software and communications service. They called on governments of Korea, China, and Japan to make a continuous, concerted effort to abide by the Seven IT Cooperation Agreement, which was made after two rounds of Korea, China, Japan IT Ministers Meeting.

President Lee is having dinner with VIPs. MIC Minister Daeje Chin (right) and Digital Times CEO Jung-wook Lee (center).

Participants raised one voice that Korea should focus on R&D by sector with a strategy of Choice and Concentration and Differentiation when it faces decreasing technology gap with China and a possible industrial reorganization in the region over the next 15 years.

In the following CEO dinner, Minister of Information and Communication Dae-je Chin made a presentation on IT 839 Strategy. President Lee had a conversation with MIC Minister Chin and Digital Times CEO Jung-wook Lee.

The forum was more than a success drawing high-profile figures such as Chairman of Woori Party Ki-nam Sin, Secretary General of Grand National Party Hyung-oh Kim, Policy Committee Chairman of Grand National Party Kang-doo Lee, legislator of Woori Party Duck-gu Jung, former Deputy Prime Minister and Minister of Finance and Economy Jin Nyam, former U.S. State Department Assistant Secretary Carl Ford, Research Director of the Chinese National Planning Committee Yepuching, and professor at KDI International School Jong-in Yu.