Launch of Upgrade Korea Forum, “Think Tank for a Market Economy”

“Upgrade Korea Forum” was launched on September 6 to propose policy alternatives to upgrade the Korean economy and nurture next-generation leaders.

Upgrade Korea Forum kicked off its agenda with its launching ceremony at the COEX Conference Center in Samsung-dong, Gangnam-gu, Seoul.

Former Prime Minister Nam Duck-woo, former Deputy Prime Minister and professor of Sogang University’s Graduate School of Economics Jin Nyum, and Vice President of Ewha Woman’s University Yoo Jang-hee were appointed executive director, chairman of the steering committee, and chairman of policy and planning, respectively.

The membership consists of over 200 figures from the bureaucratic, finance, business, academia, and political sectors. More than 100 attended the launching ceremony.

In its press release that day, the forum pointed out, “The main factor that destabilizes the Korean society and economy at the moment are the fast-spreading non-capitalism and closed nationalism,” and added, “We will suggest objective and specialized ways to modernization by linking reality and principles.”

The members agreed to hold regular meetings every month and propose policy alternatives in diverse fields.

Executive director Nam, in his memorial lecture on “Historic Significance of the Korean Modernization,” said, “Though not as harsh as the one faced by our ancestors during the ‘enlightenment period,’ the current environment is in many ways similar in that we are surrounded by the Western powers,” and proposed, “We must resist fictitious ideas and pursue values of practicality to move our country forward.”

Former Prime Minister Lee Hong-gu said in his address, “At present, Korea faces a crisis because it failed to set the policy priorities straight. This meeting takes place at a critical time when we need to communicate what kind of crisis we are faced with and come up with countermeasures.”