"[Israel] is a country with few resources and has developed its economy through technological excellence. In that sense, it has something in common with Korea. But the country has little manufacturing base with weak domestic industry. As it relies heavily on the U.S. venture capital ecosystem, there is not much left over for the domestic economy," he said.

 

Minister Choi added, "In contrast, we have a lot more to learn from the experience of the British and German economies. Britain succeeded in nurturing the culture and design industries by focusing its creative energy on these areas while Germany achieving an upgrade of its manufacturing industries through technological fusion and close cooperation between large and small businesses. Combining the experiences of Britain and Germany and instigating a creative economic boom is our own creative economy 2.0 model."