I would like to share Korea's successful economic growth experience with the ASEAN region through K-entrepreneurship, as we recover together and emerge stronger from the challenges of the pandemic. Many Asian countries are currently facing economic crises, and it is important to remember that economics is not just about numbers, but also about the psychological and spiritual well-being of society. One way to address this is through the creation of good jobs, especially for young people, and the productive solving of societal problems through entrepreneurship.
Firstly, K-Entrepreneurship has been particularly effective in nurturing people and promoting economic growth in Korea. I believe that introducing this model to the ASEAN region can help overcome the current crisis, create decent jobs for young people, and cultivate more small and medium-sized enterprises. By sharing Korea's experience with K-entrepreneurship, we can work together to foster innovation and prosperity in ASEAN countries.
Second, it's important to recognize the value of stakeholder capitalism in entrepreneurship, which prioritizes the pursuit of co-prosperity with employees, suppliers, and society as a whole. When short-term shareholder interests are prioritized over the needs of stakeholders, the long-term success of the business is compromised, and people end up being negatively impacted.
In order to achieve sustainable growth and co-prosperity in the post-pandemic Indo-Pacific region, we must prioritize humane entrepreneurship and stakeholder capitalism. By adopting this approach, businesses can take responsibility for their social and environmental impact, while also generating profits.
This approach to business fosters cooperation between countries in the Indo-Pacific region as businesses work together to create shared value for all stakeholders. It's important for businesses to consider the long-term effects of their actions and prioritize the interests of all stakeholders in order to achieve sustainable growth and prosperity.