President Moon Jae-in has promised a significant expansion of employment through the public sector. However, because this would use tax money, it would not actually contribute much to the "virtuous cycle" of the economy. Job creation should primarily be the responsibility of companies, and this must be accompanied by a revitalized economy to support them. Furthermore, the era of the Fourth Industrial Revolution requires a new paradigm, and innovative thinking is also needed for job creation. I would like to propose the construction of an undersea tunnel between Korea and Japan as one example.
The construction of the Korea-Japan Tunnel is sure to create an astronomical number of jobs. According to the Busan Development Institute, the economic impact on South Korea is expected to reach 54 trillion won (US$54 billion), including 13 trillion won (US$13 billion) in the construction industry, 13 trillion won in construction materials, 4 trillion won (US$4 billion) in wholesale, retail, and services, 4 trillion won (US$4 billion) in leather and chemicals, and 1 trillion won (US$1 billion) in industrial machinery. In addition, it is expected to create 450,000 jobs. As of 2020, the construction industry ranked the Korea-Japan Tunnel as the top project expected to generate significant profits, followed by the Korea-China Tunnel, and the Saemangeum Project (a tidal flat reclamation project in North Jeolla Province) in third place.
The Korea-Japan Tunnel will also have significant secondary effects. First, it will establish an infrastructure network in Northeast Asia, which is expected to stimulate trade within the region by uniting Korea, China, and Japan. However, the Korea-Japan Tunnel will not serve as the foundation for Japan's expansion into the continent, as some fear. Rather, it will be a major catalyst for transforming the Korean Peninsula into a transportation hub for Eurasia. It will also have a significant effect on Japan, with a population of 120 million, being integrated into domestic demand. We cannot afford to remain trapped in a closed-minded, defeatist mindset. For Korea to become a super hub, it needs to seize platforms, and the Korea-Japan Tunnel is one such platform. Taking this first step toward the future will be recorded as a major achievement for the current administration.
Park Seong-yeol (Advisory Committee Member, World Peace Tunnel Foundation)
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Chosun Ilbo (Korean)
Chosun Ilbo Readers' Proposal: Create jobs through a Korea-Japan undersea tunnel
Chosun Ilbo Japanese Edition
Chosun Ilbo (Japanese) Reader's proposal: Create jobs through a Korea-Japan undersea tunnel
