Feb 22 • 07:45 UTC 🇰🇷 Korea Hankyoreh (KR)

To succeed in social policy structural reform in the ‘AI era’

Experts express concern about when the government will reveal its social vision and policies, particularly in light of challenges in the real estate and stock markets.

In the face of the growing influence of artificial intelligence and shifting market dynamics, social policy experts are anxiously awaiting the announcement of the new government's social vision and related policies. While the president managed to achieve ambitious stock market promises early on, the focus shifted to the more challenging real estate market, which has historically been a downfall for progressive governments. This shift illustrates a broader narrative where public expectations and expert forecasts now diverge significantly from those of previous administrations, potentially impacting future policy formulation.

With swift demographic changes and the impending impact of AI, crucial issues such as employment, education, income security, and care are increasingly seen as urgent reform challenges. Although these social policy issues may not command as immediate attention as stock or real estate markets, their complexity and difficulty require nuanced approaches. Effective reforms are less about politicians showcasing their achievements and more about unravelling interwoven concerns that often involve unpopular decisions and careful political maneuvering to avoid backlash, given the vested interests of stakeholders involved.

Despite the obvious need for reform, policymakers are well aware of the challenges ahead, as both the previous and current governments have promoted pension, labor, and education reforms as essential to the nation's future growth. Given the pressing realities of today’s education landscape, the dual realities of the labor market, and the upcoming societal implications of AI, the urgency of these reforms continues to grow. However, experts and citizens share a sense of frustration as the current government's vision for society and citizens remains vague, fueling concerns that structural reform lacking a clear vision may lead to suboptimal outcomes.

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