Digitalization goes past the unfold of 5G networks — operational in the Dominican Republic since early November 2021 — because it requires adopting new applied sciences and requirements for seamless communications between folks, enterprise and issues, in addition to attaining full on-line entry to private and non-private providers and the clever administration of cities.
Korea’s New Digital Deal, coupled with the technical help from the World Organization of Smart Cities, contains the parts of what the Dominican Republic desires to comply with.
Strengthening social safety is a vital aspect for the transformations forward. The “fourth industrial revolution” is advancing quickly, displacing labor in trade — by robots — and providers — by synthetic intelligence algorithms — who should be retrained to be able to keep away from everlasting joblessness.
Strengthened social protections, subsequently, transcend unemployment insurance coverage by aiming at the eventual reinsertion of these displaced. Korea’s proposals on this regard are very a lot value contemplating.
Balanced nationwide improvement is a public coverage pursued in Korea over the final twenty years. The different is to pay attention manufacturing, public providers, schooling and analysis, growing the possibilities for surprising shocks — akin to COVID-19 — to cripple the whole economic system.
By spreading wealth creation to all areas, decentralized improvement prevents disruption to one among them from affecting the efficiency of the relaxation, thus making certain nationwide resilience.
Nearshoring manufacturing is one other coverage response arising from the wants for resilience, however at the worldwide stage, simply in case additional disruptions threaten the effectiveness of provide chains to ship simply in time.
By opening new manufacturing amenities — of batteries, medical gadgets, medicines or semiconductors — in nations like the Dominican Republic, Korean producers might produce at the low price, excessive productiveness and minimal taxes we provide, whereas delivering reliably to ultimate markets with which we now have free commerce.
While we put together for the future, Korean companies are already making the most of enterprise alternatives. Nineteen companies produce textiles and attire for export to the US. Samsung and LG dominate in home home equipment and electronics. Hyundai Motor and Kia are the prime two promoting manufacturers in cars.
Kepco is increasing transmission traces, Posco is enlarging liquefied pure gasoline storage capability and SK is investing in LNG technology. SK and Kogas are tendering for additional LNG producing capability. Kogas is tendering for an LNG import, storage and distribution terminal.
And in mass transport, Hyundai E&C and Dohwa Engineering are tendering for mild rail in Santiago and Santo Domingo, respectively.
This bold agenda is the least we might aspire to — as we put together for the next 60 years of bilateral relations — if we’re to depart a greater world for our youngsters.
One by which they’ll proceed to get pleasure from the pleasant competitors of our baseball gamers, in addition to the creativity of our cultures, whether or not Korean movies and pop music or Dominican bachatas, movies, merengues and Latin jazz.
The Dominican Republic hopes this yr to share an excellent pattern of this, with the first Dominican Film Festival early in June, a live performance by our Grammy-award winner Michel Camilo, the residency in Korea of our prime sculptor Juan Trinidad and with gastronomic festivals, Michelin-star VIP dinners and artwork reveals throughout the first Dominican Week in Korea scheduled for early October.
May these initiatives go away little question about the significance the Dominican Republic offers to Korea, a rustic that reached the prime in lower than two generations, despite civil struggle, colonialism and a troublesome neighborhood.
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Federico Alberto Cuello Camilo is ambassador of the Dominican Republic to South Korea. He contributed this column as a part of The Korea Herald’s commemoration of the sixtieth anniversary of the institution of diplomatic relations between Korea and 13 Latin American nations with embassies in Seoul. — Ed
By Sanjay Kumar (sanjaykumar@heraldcorp.com)