Session Theme

PLENARY SESSION

The recovery of the U.S. economy, a partial failure of Abenomics, the weakening of solidarity among the EU countries, and the advent of the digital economy… These are the reality of the world as we witness it today.

Four years ago in 2013, MoneyToday Media’s K.E.Y. PLATFORM presented “Global Scenario for 2018 ” which contained its outlook on the future, was presented at the plenary meeting of the First K.E.Y. PLATFORM Conference. At that time, we forecast how the future five years out would look using scenario planning techniques including in-depth interviews with 100 experts in and out of Korea and the votes of 100 global hedge fund managers on core signposts. Today, most of our forecasts have been turning into reality.

In 2014, K.E.Y. PLATFORM called for the disruption of existing business models to prepare for the future, which was verified by the global scenario (K.E.Y. PLATFORM 2014). In the following year, it proposed to change the corporate structure to focus on exploration and experimentation by turning the company into an ambidextrous organization (K.E.Y. PLATFORM 2015). Last year, it presented a methodology to expand the arena of innovation implementation at a global level (K.E.Y. PLATFORM 2016).

After careful consideration, we have decided to show you a new upgraded scenario at the plenary session of the Fifth K.E.Y. PLATFORM Conference in 2017. The reason is that so many things have changed faster than expected since 2013. In addition to this, we are headed towards more trying times as Korea as a nation and the Korean economy have been putting off structural reforms.

It is difficult to predict the direction that policies of U.S. President Donald Trump will take. There is a growing fear of the disintegration of the European Union due to the rising concern over “Nexit” (the Netherlands voting out of the EU) in the wake of Brexit. In the meantime, industrial structures and paradigms are completely changing as the world enters the digital economy.

Many people call this fear and uncertainty a crisis. However, K.E.Y. PLATFORM has become convinced through its in-depth coverage and research on the frontlines of global innovation that this crisis can be turned into an opportunity.

President Trump was a businessman with decades of a shrewd business mentality ingrained in his mind. Therefore, despite his call for “America First,” we believe that we can make practical negotiations with the President. Korea can become a main player in the era of the digital economy if it can add creativity to its IT infrastructure and manufacturing capabilities.

At the site of the K.E.Y. PLATFORM 2017 plenary session, we will look ahead into the next three years through the “Global Scenario for 2020” and try to find opportunities for Korea. It is meaningless to try to look ahead at five years out or ten years out in a world where change is accelerating. We will find an opportunity for another take-off by precisely forecasting the next three years, which we believe will be one of the biggest inflection points in modern Korean history.

The Heritage Foundation, a top U.S. think tank that can read President Trump’s policies the best, and Sejong Future Strategy Research Forum, a group of top Korean intellectuals, will join the plenary session of K.E.Y. PLATFORM 2017. During the session, we will propose ways of overcoming the crisis in the “Pandemonic Age” and finding new opportunities.

Breakout Sessions

◇ Finance

Transformation of financial services in a hyper-connected world: the need for trust, transparency and shared value creation

The field of global financial services is not free from disruptive innovation in the service sector triggered by hyper-connectedness. IoT and AI have been establishing themselves as the innovation engines for the digital economy and breaking down the value chain of financial services that generate highly utilized data. To maintain their competitive edges, the incumbent financial service leaders are trying desperately with their experiments to converge new technologies and services. The financial service market is turning into an arena of mixed martial arts with the global top-most investment bank Goldman Sachs introducing an AI-based investment consulting service and competing directly with FinTech companies in the online loan market.

Global financial service industry experts are paying attention to the year 2017 as global technology-based financial service startups who have been thriving on payment settlement solutions, data analysis and financial software are expanding into the realm of platforms with their blockchain and new credit rating models. In response, traditional powers who have been observing their experiments closely are now rising to fight back in order to maintain their status through M&As and joint ventures with technology companies.

Against this backdrop, K.E.Y. PLATFORM 2017 will invite experts from leading countries in the field of financial services including the EU and the U.S. and listen to their insights on the direction of qualitative shifts of the financial service industry based on hyper-connectedness. In this session, we will have time to share the new opportunities that global innovative financial service providers are aiming at.

◇ China

New China │ Collaborative opportunities will arise from its simultaneous drives for inclusive globalization and structural reform

In the World Economic Forum (WEF) Annual Meeting 2017, the WEF Secretariat assigned the “Five-Star Red Flag” a pole next to the WEF flag flying on the center pole at the Davos Congress Center in Davos, Switzerland for the first time in its annual meetings. The reason is that Chinese President Xi Jinping stressed Davos’s message in his keynote speech: Davos has been calling for market opening based on multilateral agreements.

The United States under the Trump Administration wants a new trade order supported by bilateral agreements. On the other hand, China is expected to go beyond its status as the biggest trade competitor for the U.S. and to test its strength against the U.S. as an alternative leader of the “globalization” camp. The dark clouds over the global economy do not seem to be dissipating anytime soon, with the U.S. wanting to restructure the existing world order and the EU facing the rising debts of the Italian government in the wake of the Brexit vote. Though China still needs to concentrate on structural reforms against risks in real estate and financial services, there are high expectations at home and abroad that China will give the global economy a breathing space from the chronic economic depression by boosting consumption.

To maintain its growth momentum, the Chinese leadership is also expected to encourage the transition to a digital-based innovative economy while shaking off oversupply in the public sector. At the same time, they are expected to strengthen China’s status as a global leader by spreading China’s new standards mainly through companies considered as good models for the digital-based innovative economy.Korea and China are having temporary difficulties in terms of economic exchanges due to differences in opinion on diplomatic and security issues. Considering China’s policy paradigm that pursues globalization based on the digitization of its economy, however, collaborative opportunities will soon be restored – more strongly than ever before. For this reason, K.E.Y. PLATFORM 2017 has invited politics and economy experts representing China and innovative entrepreneurs leading the digital economy. As we listen to their thoughts on the direction of “Inclusive Globalization” and their innovative ideas, which may grow to be global standards, we intend to find collaborative opportunities for win-win partnership.

◇ Special sessions

Challenges for the political leadership to pull through the “pandemonic age”

Political leadership has emerged as a hot issue once again with the election of Donald Trump as President of the United States. Korea is also in a desperate situation when it must remaster its political leadership. Political leadership can be said to be the biggest of all the uncertainties that we have right now.

We have invited a political leader for a special lecture. He is from a Northern European country that has overcome tough changes in the global environment and domestic conflicts by implementing consensus and coordination, the proper functions of politics, and consequently has established itself as a truly advanced country.

Korea needs to seek and implement a new direction promptly and strongly as the interests of people from all walks of life at home and abroad are in sharper conflicts than ever before. This special session will cover a set of lessons for Korea to take under these circumstances.

Leading a decisive action on restructuring, increasing practical welfare benefits and achieving social consensus, among other things, are all up to the political leadership. In this session, we will be introduced with specific models of advanced political leadership for Koreans who are living in a society where generational conflicts, labor and management conflicts, and the polarization of conflicts between social classes are tangled up under the sluggish economy.

PLUG-IN & TALK

“Plug-in & Talk” is a special one-day session unique to K.E.Y. PLATFORM that takes place on the second day of the Conference. Korean and foreign experts in various fields engage in “interactive talk” with the audience. Entrepreneurs, experts, researchers and policy leaders who are rarely seen at conferences in Korea take the stage and share realistic, practical, original and emotional ideas.

Last year, participants in this session showed how global innovators in the U.S., China and Europe developed (Create Algorithms), expanded (Scale Up) and standardized (Ensure Universality) smarter solutions to create new values. This year, we will have an interactive talk about the direction of changes in core drivers, which are the essential factors that must be looked into to develop a global scenario on the future in such areas as industry, population and energy in a global market that is being transformed rapidly into a digital economy. We will continue to talk about ideas to create opportunities considering the direction of the changes.

On the industrial front, we will have time to think about how cutting-edge ICT including artificial intelligence and big data will meet and digitize the manufacturing industry across the entire process and how they will create new values and business models.

We will also try to forecast changes in demand due to changes in population structure and find new opportunities and markets. In the age of low birth and population aging, consumer needs cannot be satisfied with the existing uniform production system. New types of demand from different types of consumers will be created, such as demand customized by the elderly, retirees and children.

Energy can be re-defined as the driving force for sustainable generation. As we enter the digital economy, new markets are opening up in the energy sector, such as electric cars, eco-friendly renewable energy and batteries for various types of digital devices.

Plug-in & Talk is more of an interactive talk show than a one-way presentation or a typical debate. For better communication between speaker and audience, discussants, in addition to a moderator, will be stationed at different corners of the stage and assigned at moments considered necessary to inject life and energy into the talk. This session will inspire those who are stuck in the ruts of their daily routines and duties with fresh ideas and deep insight.

WORKING PROCESS

MoneyToday Media played all its cards that it has accumulated over more than 20 years since its foundation to create the “Global Scenario for 2020” Our coverage capabilities and networks as well as the planning and analysis knowhow accumulated through the hosting of four K.E.Y. PLATFORM conferences were employed to create the scenario, which will be presented at the “K.E.Y. PLATFORM 2017

A task force was set up with journalists who have extensive coverage experiences and expertise in scenario planning. In September 2016, the team started interviewing Korean and foreign experts in various fields on topics related to the times with greater uncertainty. We have identified drivers that will have great impact on the future of Korea.

The following five factors were selected as core drivers: Geopolitical risk, global economy in the Trump age, changes in population structure, entry into the digital economy, and climate change and energy. These five drivers were covered in depth earlier this year in a new-year feature series titled ”Pandemonium 2020,” which was planned jointly with the Sejong Future Strategy Research Forum.

While working on the new-year series, the Taskforce members also visited major research institutes, universities and companies around the world including The Heritage Foundation, Brookings Institution, Peterson Institute for International Economics, Harvard University, Keio University, Corning and Fuji Xerox.

On the basis of the views and insights of experts in and out of Korea gathered this way, we completed probable scenarios for the future. With these scenarios, the taskforce conducted a survey with 300 experts in various fields in the U.S., China and Europe to select the scenario that is the most likely to take place.

This is how “Global Scenario for 2020” was born.

K.E.Y. PLATFORM did not stop here. We took one step further and met with 50 experts including the directors of government-funded research institutes and university professors to find strategies to respond to the times of great uncertainty.

We have tried and achieved a lot so far, but this is only the first half of the game.

MoneyToday Media plans to deliver the “Global Scenario for 2020” and its response strategies to opinion leaders in various walks of life including Korean political leaders. We also plan to distribute them to institutions and press in and out of Korea where we have a network to share the troubling prospects of the future and gather wisdom to pull through them.

We hope that you will check out the vision of the future and readiness strategies that MoneyToday has worked hard to verify at the K.E.Y. PLATFORM 2017