PH Envoy to ROK Special Guest at Chosun Business Conference

PH Ambassador to ROK Raul S. Hernandez with Nobel Laureate for Economics Professor Joseph Stiglitz at the Weekly Biz Global Conference 2017

20 October 2017 SEOUL - Philippine Ambassador to ROK Raul S. Hernandez was a special guest at the Weekly Biz Global Conference 2017 hosted by the Chosun Media Group, a major Korean media outfit, at the Plaza Hotel in Seoul on October 12. The event was attended by Ambassadors and representatives of diplomatic missions in Seoul, distinguished speakers, members of the business community, and media representatives.

This year’s Conference featured the theme “How a nation succeeds: Advice for the Success of J-Nomics.” The Conference formally opened with remarks by Mr. Yongmaan Park, Chairman of the Korea Chamber of Commerce and Industry (KCCI).

In his remarks as a keynote speaker, Mayor Park Won-Soon of Seoul Metropolitan City, emphasized that for inclusive economic growth to be attained, there should be a balance between wage growth and innovation growth, that would create opportunities not only for big businesses, but also for micro, small and medium enterprises (MSMEs) to prosper.

The plenary sessions highlighted presentations by renowned economists such as Professor Joseph Stiglitz of Columbia University who was awarded the Nobel Prize for Economics in 2001. Professor Stiglitz espoused a “trickle up approach” emphasizing job creation as the dynamo for growth and commended the Korean government for pursuing this approach, spurring job creation to fuel the growth of the economy.

During the Conference, Ambassador Hernandez had the opportunity to meet Nobel Laureate Joseph Stiglitz to convey appreciation for the latter’s insights during the conference which is relevant to the Philippines in light of the current administration’s focus on expanding the robust middle class and bolstering the capacity of MSMEs to become a major driver of the Philippine economy. END

For more information, visit www.seoulpe.dfa.gov.ph / www.philembassy-seoul.com or https://www.facebook.com/PHinKorea/