Statistics Korea said on May 18 that the number of people out of job actually neared 3 million, 3.1 times higher than the S. Korean government’s official jobless numbers.
The Park Geun-hye government has fervently advocated its creative economy initiative, underlining its commitment to discovering new growth engines and boosting job creation. Yet, there has been no noticeable rise in the number of newly created jobs since President Park took office a year ago. China also has a strong thirst for job creation. China, however, took a different path: Chinese President Xi Jinping has been rigorously implementing policies to support 150 universities’ endeavors for job creation. And S. Korean technology “Giga Korea” has been playing a pivotal role in carrying out such policies.
It is very ironic that Korean technology “Giga Korea” has been used as a job creation tool by China, not by S. Korea. Then, why has Giga Korea, which failed to find favor with S. Korea, been hailed as an impetus to China’s Korea push for job creation
There had been no single, consolidated online platform working for all – i.e. producers, sellers and consumers - before Kwon Oh-seok, CEO of Giga Korea, unveiled a “multi settlement online shopping mall” system, called Giga Mall. Giga Mall is a one-stop, easy-to-use online shopping mall system which allows people to easily set up their own online businesses and to glean profits from them. Since it enables people without special skills or previous business experiences to run their own online businesses, it indeed works towards job creation.
Companies, which opened an account with Giga Mall, a new paradigm of online shopping, can upload their product information and manage their own listings on their own. In particular, since Giga Mall offers multi-language translation services, any company around world can turn its business into a bricks and clicks business model with the help of Giga Mall. The reason why Giga Korea caught the eye of China was because Giga Mall allows multinational companies to open their online shopping malls without suffering from language barriers.
However, China, the fastest-rising power in the world, did not buy the technology from S. Korea without conducting a thorough due diligence. Giga Korea CEO Kwon Oh-seok flew to China and was grilled for hours by Chinese IT experts and government ministers about the effectiveness of the Giga Korea technology. After CEO Kwon explained the 20-year-old technology from its fundamentals to how far the technology had come, Chinese President Xi Jinping acknowledged the value of the technology and granted CEO Kwon business management rights, which have been held solely by China’s top 10 conglomerates And Chinese President Xi Jinping himself went so far as to engage in the establishment of a joint venture in China.
South Korea should regret having missing out on this technology. Korean society that makes judgments based on people, not the technology they developed and the government’s bossy, lazy bureaucrats are holding South Korea back. There has been no drag on China’s charge towards joining the ranks of developed nations because government ministers, relevant companies, industry and academia all are sparing no efforts in taking the nation to new heights.