The Seoul Metropolitan Government, after announcing a new economic democratization in February 2016, is taking the lead in inclusive growth in the international realm.
Inclusive growth is a concept by which inequality hinders economic growth and cuases social conflicts, aiming to elimibate the inequality and make our society a better place. It has gained enough international recognition to be discussed in the agenda in the 2015 APEC summit.
On the 3rd, the Seoul Metropolitan Government announced that it has established the Inclusive Growth in Cities Campaign, which is led by the OECD and Ford Foundation, and is comprised of 42 major cities including Paris, New York, and Los Angeles.
As “Champion mayors,” the mayors of the 43 cities that participated in the establishment, including Seoul Mayor Park Won-soon, agree to address inequality and achieve fair and sustainable economic growth and to cooperate to implement related policies.
The Champion mayors had the first conference in New York on March 29, 2016. They discussed their future roles and adopted and announced the New York Proposal.
The New York Proposal is the road map for activities of the inclusive growth campaign, seeking new directions for policies and activities for inclusive growth in various fields such as education, housing, public service, and transportation system, and to share these ideas actively.
The OECD is planning to establish an online platform to share best practices and measures to solve problems for inclusive growth of member cities. The SMG will utilized this to actively introduce and share its best practices, including economic democratization policy, living wage system, and increasing permanent job positions.
“Inequality between economic classes is a common issue among major cities in the world, including Seoul. Seoul will cooperate with member cities of the inclusive growth campaign by actively sharing with world cities and expanding the policies of its ongoing economic democratization,” Mayor Park said.