Moon paid a visit to Daejeon as the fifth of his nationwide economic tour last month. The government introduced ‘DNA 3 Core Industries Promotion’ (Data, Network and AI) and announced a plan to grow the Korean data market to US$26.8 billion with fostering 10,000 work force by 2023. The scale of the investment in basic and original research will also be increased to $2.2. billion by 2022 from the current $1.5 billion. 

“We will not interfere. We will not regulate. But we will support challenging and innovative companies” said Moon in his opening remark. The Science and ICT minister You Young-min gave a presentation on ‘regional hub for 4th industrial revolution’ and pointed out Daedeok Special Zone as the ideal spot for innovative growth, suggesting a number of tasks to make it happen. Daejeon mayor Heo Tae-jeong also introduced the city’s core strategies to grow the zone as a hub of 4th industrial revolution. 

Moon then visited the Korea Aerospace Research Institute and had a meeting with 30 officials and researchers. Moon patted on their back for successfully launching the Cheonrian 2 (satellite) and the next generation small satellite 1 and asked them to keep working for independence of Korean aerospace technology. 

Afterwards, Moon had a luncheon with 40 regional economic figures and discussed on activation measures of regional economy in particular for the exemption of the US$3.6 billion worth preliminary feasibility test. 

“The Daejeon’s vision for ‘4th industrial revolution city’ requires an advanced transportation infrastructure but the preliminary feasibility test can drag it down. So the government is working on exemption for balanced development over feasibility. When agreed by all related parties, the city will see the second urban railway tram and Sejong-Cheongju Highway. Chungcheong Province also will see a significant improvement of railway connections” said Moon.

As the last schedule of his trip, Moon visited Euneujeongi Street to meet the small business owners condensed in the area as well as the young people seeking excitement there.