President Park Geun-hye urged scientists and information-communication technology (ICT) experts Friday to work harder to develop new technologies and innovate, saying South Korea can't afford any stalling in such efforts in a fast-moving global economy.

"New technologies and industries are now moving forward at a dazzling pace in many parts of the world," Park said in a speech at a New Year's meeting with leaders of the science-technology and ICT sectors. "We don't have any time to hesitate." The science-technology and ICT sectors are the best areas where South Korea can excel, she said.