President Lee to Meet Nobel Laureate Peter Howitt on the 15th... Seeking Solutions for Innovation-Driven Growth

Awarded Last Year for 'Creative Destruction' Growth Theory
Expected to Discuss Strategies for a Major Leap Forward and Building an Innovation Ecosystem for the Korean Economy
Doctoral Advisor to Chief Secretary for Economic Growth Ha Joonkyung

President Lee Jaemyung will meet with Peter Howitt, Professor Emeritus at Brown University and recipient of the Nobel Prize in Economics.

On the 13th, Kang Yujeong, Chief Presidential Spokesperson, announced, "President Lee will meet with Professor Howitt at the Blue House on the morning of the 15th."

Professor Howitt is a world-renowned economist who has theoretically established that innovation is the key driver of economic growth. Last year, he was awarded the Nobel Prize in Economics alongside Joel Mokyr, Professor at Northwestern University, and Philippe Aghion, Professor at Collège de France.

The Nobel Committee recognized them "for their contributions to explaining innovation-driven economic growth." Among them, Professor Howitt and Professor Aghion were co-recipients for their theory of "sustained growth through creative destruction." This theory posits that new technologies and products replace existing industries and firms, thereby enhancing overall productivity and growth of the economy.

Professor Howitt also served as the academic advisor to Ha Junkyung, Chief Presidential Secretary for Economic Growth. Secretary Ha is an economist who has emphasized growth strategies centered on innovation-driven growth, productivity, and technological advancement. Accordingly, discussions during this meeting are expected to focus on Korea's economic structural transformation and long-term growth strategies.

During the meeting, President Lee is expected to hear Professor Howitt's recommendations on strategies for Korea's economic leap forward and innovation-driven growth. Topics will likely include the advancement of key industries such as artificial intelligence (AI), advanced manufacturing, shipbuilding, and semiconductors, as well as growth models that spread the benefits of innovation to small and medium-sized enterprises and regional economies.

Attendees from the Blue House will include Deputy Prime Minister and Minister of Economy and Finance Koo Yooncheol, policy chief Kim Yongbeom, Chief Presidential Secretary for Economic Growth Ha Junkyung, and Chief Presidential Secretary for Social Affairs Moon Jinyoung. As the core economic policy team will be present, it is expected that in-depth discussions will be held regarding the Lee Jaemyung administration's growth strategy framework.

Recently, President Lee has repeatedly emphasized the importance of strengthening industrial competitiveness, technological innovation, and balanced regional growth for Korea's economic revitalization. This meeting is expected to serve as an opportunity to seek ways to create an innovation ecosystem, enhance productivity, and mitigate the social impact of technological change, in order to overcome the country's low-growth phase.

This content was produced with the assistance of AI translation services.