Park Requests Continued Support for Creative Economy

President Park Geun-hye held a meeting with the heads of her innovation centers and leaders of conglomerate sponsors of the centers to emphasize continued support for her “creative economy” initiative today.

Park was quoted as saying, “The innovation centers should play a key role in a startup ecosystem ... and become a hub of local innovation.”

Seventeen innovation centers were recently established across the country. The meeting came as President Park wrapped up her on-site visit to all of them. The innovation centers represent the centerpiece of her flagship policy, dubbed the “Creative Economy,” which is grounded in nurturing startups and venture firms with assistance from conglomerates.

The meeting drew 17 business leaders, including Lee Jae-yong, the heir apparent of Korea’s largest conglomerate Samsung.

Other high-profile participants were Chung Mong-koo, chairman of Hyundai Motor, the world’s fifth-largest carmaker; and Hanwha Chairman Kim Seung-yeon.