Though August has yet to arrive until next week, this taste sensation can not be denied, so please pardon my haste in posting. I also note that, once again, my psychic link to certain editors at the JoongAng Ilbo is resonating. Upon penning an unctuous article on the president’s “creative economy” shiz-nizzle
(Park thanks tycoons for support on creativity), an companion editorial observes that:
The innovation incubator project underscores the country’s reliance on our chaebol (a major weakness). The large conglomerate groups were put in charge of hosting innovation centers according to their corporate home bases…Whether the projects can last and bear fruit is also questionable because of the pretentious way the government and chaebol address the project. Large companies announced investment plans in time for the center opening and the arrival of the president. The heads of the 17 conglomerates that took part in the project were invited to a luncheon at the Blue House. Now the president has also decided to include jailed corporate heads on the list of special pardons on Aug. 15, Liberation Day… other conditions should be right to encourage start-ups.
– Start-ups (should) not be afraid of failure if there are sufficient programs to support them in their new ventures.
– Start-ups and innovation cannot sprout under heavy layers of regulations and (under) a discouraging business culture.
– Various funding and support programs should come under one roof (with simplified procedures for implementation).
– The centers must be able to assist individuals and companies in the entire process of starting a business or venture.
– The innovation network should not end as the showpiece of an administration that lasts five years (but be a part of a sustained, bi-partisan effort – without the politics).
Meaning, these chaebol heads take nice pictures with the prezildent and smile but, unless pushed and unconditionally held to a meaningful program of a sustained hands-off, support for entrepreneurs (start-up companies), this whole “creative economy” is just 17 ways to float down the four rivers, while Korea is stuck up shitzzle creek without a paddle.
UPDATE: July 29, Wenesday
The JoongAng Ilbo has added further depth to their observations in a new article, in regards to the waste of resources due to poor management, oversight and a lack of political will to make a sustained effort in developing a better business climate:
Lee Byung-woo, head of the South Chungcheong center, pointed out earlier this month that the new centers for creative economy and innovation overlap with existing local government-backed institutions designed to support start-ups, such as the techno parks scattered nationwide that actually accommodate the creative economy centers.
Techno parks and creative economy centers are supposed to be partners. The former caters to already established companies and the latter to start-ups,” said Koh Hyung-kwon, head of the Creative Economy Initiative for Public-Private Partnership, which overseas the creative economy center project.
These heads seem confused as to what is what. The uncertainty of politics almost certainly ensures that this creative shizzle will be lost:
I am not sure what’s going to happen [with the creative economy centers] in three years, said an executive from one of the participating conglomerates who is now dispatched to a center. “There is a saying already that the centers will be gone at the turn of the administration. We also think the centers will pretty much be temporary.