A mission from the Monaco Economic Board has been in South Korea in partnership with the Franco-Korean Chamber of Commerce and Industry (FKCCI), which is very well established on the spot. Frédéric Genta, Interministerial Delegate in charge of the Digital Transition of the Prince’s Government joined the visit, which took place from December 3 to 8.

South Korea, devastated by war in the 1950s, has managed to recover to become today the 12th economic power in the world. The dynamism and the entrepreneurial spirit of the Koreans, allied with an unusual work force – the maximum weekly working time was limited to 68 hours until 2018 – has resulted in generating industrial giants like Samsung and Hyundai.

Today, Korea is turning massively towards digitalisation around a government directive called the “Fourth Industrial Revolution”. This has led to the creation of Smart Cities throughout the country, the population density of which (51 million inhabitants for 1/5 of the surface area of ​​France) requires very special efforts in terms of transport, energy, water supply, and education.

Frédéric Genta was able to meet, alongside Guillaume Rose, the Director of the Presidential Committee, in charge of the application of the Fourth Industrial Revolution, the President of the Health Commission and the Korean National Assembly; the President of Invest Korea, the Vice Minister of Land Development and Transport, the Director of the Smart City project as well as the Mayor of the futuristic city of Sejong, the President of the National ICT Promotion Agency, the Director General of Global Policy at the Ministry of SMEs and Startups, and the Smart Green Director of the urban research institute AURI.

Another highlight of the visit was a meeting with Ban Ki Moon, former UN Secretary General and current President of the Foundation which bears his name, who has visited Monaco on several occasions.

The economic mission ended in style with the 30th annual Gala of the FKCCI, the largest foreign chamber of commerce on Korean soil. The Gala was organised on the theme “Extended Monaco” and was entirely dedicated to the Principality and hosted more than 800 personalities from leading business and institutional circles in South Korea.

ORIGINAL SOURCE & PHOTO: MEB The Monaco delegation