Driver of historical and economic development By Youn Jong-yong, Vice chairman of Samsung Electronics I believe technology innovation and the invention of tools have always been the engines of historical and economic development. The use of primitive tools led to the Agrarian Revolution, as mechanical tools to the Industrial Revolution, just as today's electronic technology led to the Digital Revolution. Those countries and companies that conducted technology innovation, or were quick to respond to changes in technology, are today leading the global economy. Specifically, since the Industrial Revolution, Western European and American companies have driven the technology innovation that has given birth to a new industry every five decades, starting from the mid-18th century. Asian Growth and Development Opportunities Asia, where three of the four greatest ancient civilizations originated - namely Mesopotamia, the Indus Valley, and Huang He China civilizations - had a richer history than the West. However, Asia was a latecomer to the Industrial Age, as it didn't swiftly embrace the great paradigm shift of industry. But, in the current Digital Age, Asia has a golden opportunity to rise as the heart of the global economy. The reason why this is possible is because in the Digital Age newcomers and long-established players are placed at the same starting point. And the countries and companies with the highest creativity, intelligence, and speed will be the leaders in the Digital Age. Specifically, owing to radical industrial convergence, barriers within and between industries are being knocked down, giving birth to new industries, which will create new leaders. As such, Asia is at an inflection point. Depending on which direction we look, there could be a threat or an opportunity. Suggestions for Future Asian Growth Hence, I would like to make some suggestions whereby Asia can become one of the world's most dynamic regions and a key growth center in the global economy. First, Asian countries and companies should work more closely in science and technology in order to lead global technology innovation. For example, countries can work toward establishing a joint committee of science and technology. Therefore, a concerted effort by Asian countries is needed to establish standards, laws and systems from the development stage of technology. Secondly, I believe Asian countries must not only emphasize on exports but also focus on expanding domestic consumption. In the future, each country must nurture its strengths internally through Asian FTAs and stimulate domestic demand in order to create new technologies and industries. Lastly, I would like to discuss expanding cultural exchanges to promote understanding among all countries. In the past, there has been some unfortunate history between Asian countries. If we hang onto the past, we are only impeding each other's progress. Cultural exchanges and interaction will create a unifying relationship within the Asian community. We should make an effort to better understand each other's history and customs. In order to increase mutual understanding, we should actively promote the exchange of professors and students/in academia, and engineers in newly developing industries. Also, immigration of scientists, researchers, and academics can spur this initiative. In order to maintain Asia's sustainable growth all nations and enterprises in the region, we must work from a platform of trust. Let all of us here take a lead in sharing knowledge and information. And going forward, we will not only further Asia's development but also contribute greatly to world progress.