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Policy Proposal for the Development of New Industry in Seoul toward the Era of Digital Transformation

Chanyoung HongㆍSujin Kim

This research aims to seek a policy scheme to support new industry development in Seoul. Artificial intelligence, bio & health, fintech, smart mobility, and robot are targeted as five promising fields. We investigate each field’s definitions, characteristics, and current state. The previous significant policies of central and local governments are then summarized.

The local government of Seoul has promoted policies for artificial intelligence, bio & health, and fintech mainly focused on the construction of infrastructure. Since R&D for new industry fields is pushed mainly by the central government, the local government needs to concentrate on supporting business activity in the area. In that sense, Seoul needs policy set for infrastructure construction, manpower training, and corporate support. Also, the capital city of Seoul has abundant resources in finance, population, and demand, so the favorable environment must be considered when we establish the policy proposal. After collecting opinions from experts in the five fields, we prioritize four policy proposals: ① customized manpower training for industry demand, ② invigorating networks for start-ups, ③ provision of demonstration opportunity for new business, ④ inducement for convergence business.

The first proposal encompasses a practical training program that finds field problem solutions. It also includes a scholarship fund and a residence support program for talents. The second proposal advocates for cooperation among industry stakeholders, universities, and laboratories. On the other hand, professional services such as legal advice or security technology need to be offered for the start-up company. The third proposal is related to the regulation-free zone for testing or demonstrating new business. The public sector needs to actively participate in public data through open-innovation. The final proposal includes the public demand linked to public procurement. The fusion of new technology and conventional industry is also a desirable way.