‘Stronger Korea-Japan ties needed for creative economy’

South Korea must work on stronger ties with Japan before discussing creative economy, French professor and columnist Guy Sorman said on Tuesday.

Speaking at a meeting with a group of government policymakers and businesspeople in Seoul, he said, “South Korea needs to rebuild its ties with Japan. It’s absolutely necessary for the geopolitical stability of the region and for economic reasons.

“It’s useless to talk about creative economy and added-cultural value, if the world around you is struggling,” he said in the forum co-organized by the Institute for Global Economics and the Korea International Trade Association.

Now is time to seek creative economy, the French scholar said, not just to herald the launch of a new government but because the global economy will not again see the past heyday of economic growth, with China manufacturing every commodity at cheap prices. 

South Korea and Japan are two Asian countries with predictability in business that China lacks, and needed to take advantage of this, he said.

Sorman insisted that the two countries need to avoid a currency war and seek cooperation for mutual prosperity. He viewed Korea and Japan as potential “complementary” business partners.

He said, “Japan has a lot to learn from South Korea. The education system today is better in Korea than in Japan. The Japanese have (an enhanced strategy on developing) their niche market that South Korea doesn’t have.”

The French professor underscored the economic value of culture. He stressed that Korean products needed a stronger marketing strategy to promote the unique cultural value of the phrase “proudly made in Korea” to conjure up a strong impression.

“Korean (culture) marketing is a disaster,” he said. He added Chinese Confucian institutes were everywhere around the world, whereas the Korean counterpart, Sejong institutes, were unrecognized.

“I know there is Sejong institute in France. I just don’t know where it is,” he said.

“Any economy can be based only on local assets. Not national resources, because (South Korea) has none,” he said, emphasizing that Korean culture is a lucrative resource for boosting exports.

By Chung Joo-won (joowonc@heraldcorp.com)