Global Forum on Growth of Innovation 2021 co-hosted by the World Bank and the Ministry of Economy and Finance of Korea to address the new challenges of innovative growth in the post-pandemic era

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2021-12-07

Seoul, South Korea, December 7, 2021 / PRNewswire / – The Korean Ministry of Economy and Finance announcement that it will co-host the Third Global Forum on Growth in Innovation (GIGF) with the World Bank Group on December 8 and 9.

First of all Launched in 2019, the Global Innovative Growth Forum (GIGF) is a forum for world leaders to engage and collaborate in promoting innovation for sustainable growth, jointly organized by the World Bank and the Ministry of Economy and Finance of Korea.

Celebrating its third anniversary this year, GIGF 2021 will be held in a hybrid setting at Seoul continuing last year’s discussion on innovative and sustainable growth under the theme “New challenges for innovative growth in the post-pandemic era”.

The forum will be opened by the Deputy Prime Minister and Minister of Economy and Finance of the Republic of Korea Nam-ki Hong and World Bank Vice President for East Asia and the Pacific Manuela V. Ferro with a wide range of speakers such as Borge Brende, President of the World Economic Forum and Sung-roh Yoon, Chairman of the Korean Presidential Committee on the Fourth Industrial Revolution.

In his opening remarks, Minister Hong will mention that the conditions for innovative growth are changing dramatically due to the COVID-19 pandemic and the acceleration of the digital / green transition, the disruption of the supply chain. global supply and continued disproportionate growth between countries and sectors within a country. In order to make the most of opportunities and respond effectively to crises, it will present four innovative growth strategies: innovation leader, innovation diffusion, innovation cooperation and innovation sharing.

The first day will consist of two sessions:, Resilient and Inclusive Recovery (GRID) in the post-COVID-19 era. Session 2 “Shaping the future of the data economy” will specifically discuss how to use reliable data sharing (at national, local and cross-border levels) to stimulate economic growth, inter-state cohesion and the creation of innovative value for sustainable development. Panelists include academic experts such as the MIT professor Alex pentland, key government officials in developing countries such as egypt Deputy Minister of Information and Communications and much more.

Day 2 will discuss “Lights and Shadows of Digital Innovation” and “Startup-Focused Innovation Through Collaborative Partnership” in Sessions 3 and 4. In Session 3, Sheila warren from the World Economic Forum, a specialist in data, blockchain and digital assets, will explain digital innovation using data and technology and how it is regulated and propose sustainable policies for digital regulation. In session 4, the two cases of a joint venture established between domestic and foreign startups will be presented after researching opportunities for cooperation between startups to support innovation in developing countries during last year’s forum.

More detailed information is available on the Global Forum on Growth of Innovation (http://eng.gigf.kr/). Also, the forum will be posted on YouTube (Day 1: https://youtu.be/p9khJ_sxSlc, Day 2: https://youtu.be/CJsq5PhjWLk)

SOURCE Ministry of the Economy and Finance


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