South Korean leaders stress AI, semiconductor and regional growth at Jeju industry forum

The 49th Jeju Forum, organized by the Korean Chamber of Commerce and Industry and held at the Shilla Hotel in Jeju, gathered senior government officials and business leaders on 16‑17 May. Minister of Trade, Industry and Energy Kim Jeong‑gwan warned that the current semiconductor boom does not translate into broad‑based economic prosperity and urged preparation for future downturns. He identified artificial intelligence, regional development outside the Seoul metropolitan area, and the broader ecosystem as three strategic “battlefields” for Korea’s future growth, calling for decisive investment and regulatory reforms.

SK Group chairman Choi Tae‑won, speaking alongside academics, said memory demand will keep SK Hynix’s share price on a long‑term upward trajectory, emphasizing that AI will rely heavily on memory chips. He noted the phasing out of degree‑based hiring, highlighting the need for cognitive and empathy skills in the AI era, and argued that Korea should focus on niche AI markets rather than direct competition with the United States and China. Both speakers stressed that coordinated policy and investment are essential to sustain Korea’s economic momentum.

The forum attracted about 500 participants, including ministers, CEOs, scholars and overseas diplomatic representatives, and featured discussions on the future of the semiconductor sector, AI development, and balanced regional growth.