The New Cold War
Starting with Russia's invasion of Ukraine, the pace of reorganization of the international order has accelerated.
Before the war, international order had been reorganized, centered on the competition for hegemony between the U.S. and China. However, the COVID-19 pandemic expanded the conflict between the U.S. and China into a power conflict structure. The Russo-Ukrainian war led to a clearer development of the broader clash between the two powers.
So far, we are rapidly entering a ‘New Cold War’ era, represented by the new battle between the democratic and authoritarian states. The future of international trade, which drives the global economy, will be determined based on security. The global order will change rapidly in multiple dimensions. This track will seek optimal solutions toward future prosperity amid these troubled times.
New Wealth Equation
The global economy is facing an unpredictable situation due to factors such as inflation, interest rate hikes, and supply chain restructuring.
While responding to the COVID-19 pandemic, governments and central banks around the world aggressively injected liquidity to boost the stagnant economy. As a result, the global economy is faced with inflation. The war in Ukraine is driving up energy and food prices, adding to inflationary pressures. Now, central banks are raising interest rates to respond to inflation, and the financial markets are fluctuating as a reaction. There are also observations that another economic crisis may occur in the process of raising interest rates.
Due to the Russia-Ukraine War, there's a movement to form an 'economic bloc' that prioritizes the value of security more than the economy. As the global economy moves toward a new equilibrium point, this track will seek paths toward future wealth.
Dynamics of Transformation
As the pandemic stimulated rapid digitalization, businesses and industries are entering the point of full-scale transformation.
The development of technology is leading to the convergence between industries, and the pandemic played a vital role in speeding up these transitions. Changes are also taking place in the overall management of the companies. Rapid digitalization has changed how consumers consume and is creating new product sales channels and marketing changes.
Remote work, an employment arrangement familiar to us during the pandemic, gave us an opportunity to think about the ‘Future of Work.’ Companies are dealing with new challenges in terms of work style, employment type, and organization management. This track will look into the future by examining businesses and industries that face a new turning point.
Among remarkable technological advancements, new innovative companies are appearing one after the other. Innovators seeking new opportunities are more active than ever.
The ripple effect of the digital economy is having a far-reaching impact on countries and societies. Cutting-edge technologies, such as artificial intelligence (AI), robots, and 5G have already penetrated the overall industries, and new technologies, such as biotechnology, cryptocurrency, and 6G, bear the potential to change the future. Metaverse is creating a new trend by combining with the development of digital technologies.
Also, private tech businesses competitively jumped into space exploration, searching for ‘infinite opportunities.’ This track will predict the future and potential of innovative companies.
Greenshift & C-Tech Race
Technology is expected to play a vital role in global cooperation to respond to climate change.
Renewable energy technologies, such as solar and wind power, as well as carbon capture technologies, technologies for replacing fossil fuels with hydrogen energy, and technologies for recycling plastic materials are recognized as keys to overcoming the climate change crisis. Such climate-driven technologies (C-tech) are expected to attract substantial capital in the future.?
The Ukraine war triggered a full-fledged energy transition to reduce energy dependence. This track will discuss sustainable policies toward net-zero, the future of the carbon market, and renewable energy technology.
Algebra of Freedom
"Freedom" has been the driving force of the prosperity of humankind over the past 100 years.
"Freedom" has been the driving force of the prosperity of humankind over the past 100 years. Freedom has been regarded as a fundamental value of democracy and the orientation of humanity. However, authoritarian countries that restrict political freedom have emerged based on military and economic power, destroying the value of freedom.
Furthermore, freedom is threatened on the economic front. In particular, since the pandemic, governments around the world have been leading the economy by profoundly intervening in the economy. As a result, economic and corporate freedom are seriously hindered. We also hear concerns that the economic system, which has been operating based on the principle of freedom, is being distorted. This track will emphasize the value of freedom and explore how to develop the future of political and economic freedom.
Society, culture, and human life have completely changed since the pandemic.
The joint response to the pandemic between the governments and private sectors on science and technology demonstrated new possibilities for mankind. We cannot deny that the pandemic worsened inequality and generated social conflicts. Concerns are growing that such a gap in equality could widen due to the accelerating inflation. We still live with the threat of the possibility that new variants or infectious diseases may emerge, so we must be prepared for all kinds of potential risks.
Since the pandemic, the way of providing and consuming cultural content has completely changed. In line with this trend, Korean culture gained a notable reputation for cultural content in the international market. The world is technologically connected, and we expect to see endless changes. Active discussions on how society, culture, and individual lives will change after the pandemic will be held in this track.