ZHOU Li, Assistant Dean of CKGSB shared his insight on The 4th Industrial Revolution and the future of Capitalism at the discussion session at JEJU Forum 2017. In the session, ZHOU Li focused on China’s current place in the changing era and CHO Dong-Sung, George HARA also shared their opinions for the subject. The 12th JEJU Forum has attracted 5,500 participants from 80 countries.
JEJU Forum, one of the major international forums in Asia where global leaders come together to exchange and discuss ideas on Asia’s peace and prosperity, has been held in May each year. This year, the forum consisted of 75 sessions, including plenary sessions and various networking opportunities. About 5,500 participants from 80 countries such as worldwide political and business leaders, renowned scholars attended the 12th JEJU Forum from May. 31 for three days.
Assistant Dean. ZHOU Li was invited for a session as a speaker to share his insight about The Fourth Industrial Revolution and the future of capitalism. The session consisting of the discussion and floor Q&A was conducted by Visiting professor of CKGSB and President of Incheon National University, CHO Dong-Sung, as the moderator, and ZHOU Li, Assistant Dean of CKGSB and George HARA, CEO of DEFTA Partners as discussion panels.
| “China is making dramatic progress in terms of the market size, data and computer technology in the period of the fourth industrial revolution. In particular, China is already leading in the robotics market. Also, the ‘Entrepreneurial spirit’ should be tapped for this changing era” – ZHOU Li, Assistant Dean of CKGSB |
| “Korea should pursue a smart strategy based on strong manufacturing industry, advanced science technology, and consensus between managers and workers. The smart country should be established based on the ICT, economy of scale, and creation of corporate value through shared values among business and society members.” – CHO Dong-Sung, Visiting professor of CKGSB/President of Incheon National University |
| “Public capitalism ‘will be a concept that creates a happy environment for society, including workers, companies and customers. This redistributed capital will be used by companies to create good communities, to circulate all the links between people and businesses, and if the value of a corporation goes up, it will also benefit shareholders.” – George HARA, Chairman & CEO of DEFTA Partners |
<ZHOU Li’ session at JEJU Forum 2017>
In the session, ZHOU Li shared his insight focusing on China’s current place and future steps for the fourth industrial revolution. As it was predicted at the Davos Forum, he forecasted that The Fourth Industrial Revolution will bring many technologies and change our lives at the same time. While China has missed chances to make technology advancement in the first, second and third industrial revolutions, Japan has made great strides through the previous industrial revolutions, and Korea has also surpassed the world average by the time of the third industrial revolution, he explained.
However, he argued that China is already rapidly catching up the leading position in the fourth industrial revolution based on the state capitalism and huge market size. With the investment in R&D, in the international patent application, data, computer science and especially robotics market, China has rapidly become a market leader in the new era.
ZHOU Li emphasized “Based on the stable national economic structure, China is spurring development in major industries toward ‘MADE IN CHINA 2025′.” In the meantime, he added insightful advices about the future, saying that Chinese entrepreneurs should face the fourth industrial revolution with an ‘entrepreneurial spirit’.
<ZHOU Li’ session at JEJU Forum 2017>
George HARA, Chairman and CEO of DEFTA Partners has shared his opinion on ‘Public Capitalism’ based on his business experiences. And the moderator, CHO Dong-Sung talked about economic and technological strategy for Korea to be the ‘smart country’ with its strengths in manufacturing and technology industries.
<Discussion on The 4th Industrial Revolution>
After the discussion, the 90 minutes session ended up with audiences through floor Q&A. The 12th JEJU Forum was attended by key figures such as The 19th President of Portugal Cavaco Anibal and the 45th US Vice President Gore AI etc.
