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Opening address - Bank of Korea-Centre for Economic Policy Research-Organisation for Economic Co-operation and Development Conference

· Hyun Song Shin, Governor of the Bank of Korea (South Korea)

Summary written by Dark Majestic in its own words · topics: public finances and debt, development and emerging economies, technology, ai and cyber risk

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· Hyun Song Shin Wiki · Bank of Korea WikiOpening address - Bank of Korea-Centre for Economic Policy Research-Organisation for Economic Co-operation and Development Conference

ContextRecorded opening address by the Bank of Korea Governor to a conference on the economics of ageing and longevity, co-organised with the CEPR and the OECD.

Why it mattersKorea's central bank chief puts ageing and the low birth rate at the centre of economic policy, warning that AI is not a substitute for structural reform.

Problems raised
  1. Korea's population is ageing fast and its birth rate is very low.
  2. Ageing economies must make large fiscal adjustments in little time.
  3. AI will not solve structural problems on its own.
Solutions proposed
  1. Invest in research on long-term structural issues.
  2. Prepare early for demographic change, which is predictable.
  3. Use Korea's AI and semiconductor strength as an opportunity.
Read full speech on bis.org ↗

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