"We cannot weather the crisis facing the world through the methods and paradigm that we have hitherto applied," Park said during the Asian Leadership Conference hosted by the local daily Chosun Ilbo and the Presidential Committee for Unification Preparation. "Innovation -- based on science and technology and creativity -- is needed."

She added that South Korea is adapting actively to global changes in economic trends by forging an "ecosystem" conducive to its creative economy drive and a three-year economic innovation plan.

Seoul has been pushing for the creative economy drive to create business opportunities by capitalizing on innovative ideas and cutting-edge technologies.  

Park also said that charting a new path is always a "lonely and painstaking" undertaking, but without which the future would only be bleak.

Touching on the isolated regime in Pyongyang, Park called for international support for the ongoing efforts to pressure North Korea to give up its provocative policy stance and pursue "normal" development.

Under the main theme of "Asia Tomorrow: Innovation 4.0," the annual forum deals with a variety of global and regional issues including the world economy, innovation, leadership, and peace and security in Northeast Asia.

The main speakers of the forum included former U.S. President George W. Bush, former German Chancellor Gerhard Schroeder, former Prime Minister of New Zealand Jenny Shipley and Iran's Vice President Masoumeh Ebtekar.

The forum was also attended by the leaders of the three major political parties -- Chung Jin-suk, the floor leader of the ruling Saenuri Party; Kim Jong-in, interim leader of the main opposition Minjoo Party of Korea; and Ahn Cheol-soo, the co-chair of the minority People's Party. (Yonhap)