2021 Global Innovation Growth Forum co-hosted by World Bank and the Ministry of Economy & Finance of Korea to address new challenges for innovative growth in the post-pandemic era

SEOUL,South Korea,Dec. 7,2021 -- The Ministry of Economy and Finance of Korea announces that it will co-host the third Global Innovation Growth Forum (GIGF) with the World Bank Group on December 8 and 9.

2021 Global Innovation Growth Forum co-hosted by World Bank and the Ministry of Economy & Finance of Korea to address new challenges for innovative growth in the post-pandemic era

First launched in 2019,the Global Innovative Growth Forum(GIGF) is a forum for global leaders to engage and collaborate on promoting innovation for sustainable growth jointly held by the World Bank and the Ministry of Economy and Finance of Korea.

Celebrating its third anniversary this year,the 2021 GIGF will be held in a hybrid setting in Seoul continuing last year's discussion on innovative and sustainable growth under the theme of "New Challenges for Innovative Growth in the Post-Pandemic Era."

The forum will be opened by the Republic of Korea's Deputy Prime Minister and Minister of Economy and Finance Nam-ki Hong and World Bank East Asia and Pacific Vice President Manuela V. Ferro with a great line up of speakers such as Børge Brende,President of the World Economic Forum and Sung-roh Yoon,Chairperson of the Korean Presidential Committee on the Fourth Industrial Revolution.

In his opening remarks,Minister Hong will mention that the condition for innovative growth is significantly changing due to the COVID-19 pandemic and the acceleration of the digital/green transition,global supply chain disruption,and continued disproportionate growth among countries and sectors within a country. In order to make the most of the opportunities and effectively respond to crises,he will present four innovative growth strategies: leading innovation,diffusion of innovation,cooperation in innovation,and sharing of innovation.

Day 1 will comprise of two sessions: The first session "Building Back Better – The Role of Innovation in the Post-COVID Recovery" will bring together global thought leaders from the public and private sectors on the common goal of promoting innovative growth for a Green,Resilient and Inclusive (GRID) recovery inthe post-COVID-19 era. Session 2 "Shaping the Future of Data Economy" willspecifically discuss how to utilize trustworthy data sharing (on national,local,and trans-border levels) to boost economic growth,interstate cohesion,and innovative value creation for a sustainable development. Panelists include academia experts such as MIT Professor Alex Pentland,key government officials in developing countries such as Egypt's Vice Minister of Information and Communications and much more.

Day 2 will discuss the "Light and Shadow of Digital Innovation" and "Startup-driven Innovation via Collaborative Partnership" in Sessions 3 and 4. In Session 3,Sheila Warren from the World Economic Forum who is a specialist in data,blockchain,and digital assets,will explain digital innovation using data and technology and how it is regulated and suggest sustainable policies about digital regulation. In Session 4,the two cases of a joint venture established between domestic and foreign startups will be introduced after seeking opportunities for startup cooperation to support innovation in developing countries at the forum last year.

More detailed information is available at the global innovation growth forum (http://eng.gigf.kr/). Also,the forum will be streamed on YouTube (Day 1 : https://youtu.be/p9khJ_sxSlc,Day 2 : https://youtu.be/CJsq5PhjWLk)