Kim Jin-pyo, Head of Emergency Economic Countermeasures: "Aggressive Measures Needed to Overcome Economic Crisis"

[Suwon Ilbo=Park No-hun Reporter] Kim Jin-pyo, head of the Democratic Party's Emergency Economic Countermeasures Headquarters, said at an Emergency Economic Countermeasures meeting held at the National Assembly on the afternoon of the 6th, "Although the government is currently taking good measures in response to COVID-19, more aggressive measures are necessary to minimize the economic crisis."

Director Kim stated, "Thanks to the Republic of Korea overcoming COVID-19 most exemplarily in the world, we have earned a precious approximately seven months to overcome the economic crisis ahead of other countries," and emphasized, "We must utilize that period to the maximum and create conditions for international financial capital seeking investment destinations to invest in domestic companies."

He suggested as specific methods, "We must swiftly conduct online IR for approximately 300 domestic unicorn candidate companies, and rapidly abolish various regulations not in line with global standards so that international capital can invest in domestic companies."

Director Kim cited the following as effects of attracting international financial capital: ▲accelerating the achievement of 30 K-unicorns by our government ▲inducing follow-up investments from domestic financial institutions, large enterprises, and individual capital tied up in real estate ▲establishing a venture startup ecosystem through capital's virtuous cycle ▲securing new growth engines for our economy through the venture boom.

Subsequently, Director Kim quoted remarks by Jang Byung-gyu, former chairman of the Fourth Industrial Revolution Commission, stating, "Nations and companies lacking digital capability will face difficulty in survival in the future, and the 21st National Assembly must promptly undertake institutional improvements to quickly adapt to the rapidly changing social environment toward a contactless society (Untact Society)," and emphasized, "We must well utilize the precious seven months we have secured so that the Republic of Korea makes a decisive leap from G20 to G7."