Kwon Oh-hyun calls for cybersecurity to be elevated to long-term national strategy

Kwon Oh-hyun, chairman of the Long-Term Strategy Committee and former chairman of Samsung Electronics, has proposed that cybersecurity be placed on the national long-term strategic agenda, citing a recent personal data breach in the financial sector.

The Ministry of Planning and Budget and the seventh-term Long-Term Strategy Committee held their 10th innovation growth subcommittee meeting Thursday, reviewing key agenda items discussed this year and the direction of future deliberations. Kwon cited the financial sector data breach and other incidents, saying the importance of cybersecurity is growing.

Participants also raised the need to strengthen support mechanisms so that startups can enter markets and sustain growth. Hwang Kyung-min, chief executive of Vpix Medical, proposed expanding startup support while raising the expertise of private investors and tailoring assistance to the conditions startups face when entering domestic and overseas markets.

Lee Jang-hyuk, a professor at Korea University's business school, said foreign talent should be viewed as a new engine of growth and that the groundwork must be laid for them to contribute in South Korea. Kim Mi-hyun, a visiting professor at Sungkyunkwan University's Graduate School of Governance, said that as the cultural industry's structure shifts rapidly around platforms and content, the relevant laws, systems and support frameworks need to be adjusted accordingly.

Committee members agreed that generational, regional, class and labor-management conflicts are hindering sustainable social development, and that diverse opinions need to be gathered through public deliberation and other means. The Ministry of Planning and Budget and the committee plan to continue discussions on future strategic priorities based on the views expressed Thursday.

The Long-Term Strategy Committee is an advisory body to the minister of planning and budget, established in 2012. It comprises 20 experts from various fields, including Kwon, and operates through three subcommittees: the innovation growth panel, the future society strategy panel and the governance reform panel.