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Minister You Youngmin Underscored the Importance of International Cooperation for Inclusive Growth at G20 Ministerial Meeting (June 10)

- OECD Council Recommendation on Artificial Intelligence Reconfirmed at G20 Digital Economy Ministerial meeting

- Korea Shared Its Policy Experience including 5G Regulatory Sandbox

Minister You Youngmin of Science and ICT underscored the need for international cooperation to promote inclusive growth and shared Korea’s experience of digital transformation during his speech at the G20 Digital Economy Ministerial Meeting held in Tsukuba, Japan on June 8.

* The US, UK, France, Germany, Japan, Italy, Canada (G7); Brazil, Russia, India, China, Republic of South Africa (BRICS); Mexico, Indonesia, Republic of Korea, Turkey, Australia (MIKTA); Argentina, Saudi Arabia, EU

He shared Korea’s experience of digital innovation as a leading nation in digital transformation, citing Korea’s adoption of an ICT regulatory sandbox this year. He also emphasized the importance of establishing digital infrastructure for inclusive growth, and introduced Korea’s experience of launching the world’s first 5G mobile network and Korea’s 5G Plus Strategy, which is aimed at fostering five major services and ten major industries with 5G infrastructure.

The key principles* of the OECD Council Recommendation on Artificial Intelligence, in which Korea actively participated and was adopted at the OECD Ministerial Council Meeting in May, was reconfirmed at the G20 Digital Economy Ministerial Meeting.

* Inclusive growth, sustainable development and well-being, human-centered values and fairness, transparency and explainability, robustness, security and safety, accountability.

The Digital Economy Ministerial Meeting, which started in 2016 when G20 started discussions on digital economy, marks its fourth anniversary this year. Participants shared their views on the opportunities and risks of the development of digital economy at the meeting.

The participants shared their expectations that digitalization, artificial intelligence, data accumulation and free flow of data will boost their countries’ economies and promote free trade, and thus vitalizing the global economy. They also expressed concerns over challenges arising from the transition towards the digital economy, such as equitable distribution of the benefits of digitalization with socially marginalized groups, labor market change, developing digital talent, data protection and trust, and cyber security.

It is also worth noting that a G20 meeting addressing both trade and the digital economy at the same time was held for the first time. Just as a discussion on new trade norms based on the digitalization of economy started at the WTO in May, a discussion on digital economy and trade also started at the G20.

G20 Ministers adopted a Ministerial Statement on Digital Economy, which shows their commitment to maximizing the benefits of digital economy development and promoting inclusive growth. The main items of the Statement* will be reflected in the G20 Osaka Leaders’ Declaration as well.

* Human-centered future society, free flow of data with trust, human-centered AI, governance innovation, security, sustainable development and inclusion.

Minister You had bilateral meetings with Minister Rudiantara of Communication and Information Technology of Indonesia, Vice President Andrus Ansip of the European Commission and Minister Mustafa Varank of Industry and Technology of Turkey, discussing issues such as 5G and developing digital talent.

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