Finance minister nominee vows investments in AI, biohealth to tackle economic crisis

Finance minister nominee Koo Yun-cheol said Tuesday he will push for big investments in artificial intelligence (AI) and biohealth industries to help revitalize the South Korean economy currently in a "structural crisis." "The government will work to fundamentally strengthen the country's job creation capacity by making big investments in AI and biohealth ... and create new growth engines for the economy," Koo said in a written response to lawmakers' questions for his confirmation hearing, slated for Thursday. South Korea must push for "technology-driven growth," such as AI transformation and energy transition, while fostering "inclusive growth" by supporting small and medium-sized enterprises and startups, and promoting balanced regional development, he added. "The Korean economy is facing a complex and structural crisis," he explained, calling for structural reforms to fundamentally improve the economy's resilience. Regarding the effects of U.S. tariffs on the Korean economy, Koo said they will likely increase downward pressure on Seoul's exports, adding he will do his "utmost" in tradWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times