Yu Uidong "Will the Korean New Deal Yield Results Without Policy Changes Despite Pouring 160 Trillion Won"

"Optimism for By-election" Kim Jong-in's Words... "Optimism is Difficult"

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] On the 14th, Yoo Ui-dong, a member of the Future United Party, criticized the government's 'Korean New Deal' policy announced on the same day, saying there are parts that conflict with existing pledges and questioned, "Will pouring 160 trillion won really yield results?"

On the 15th, Yoo appeared on BBS Radio's 'Park Kyung-soo's Morning Journal' and said, "It was welcome that the government announced an agenda for future industries for the first time in its fourth year, but most of the detailed and practical contents are somewhat worrisome."

He pointed out, "One of the representative tasks is to complete an intelligent government, and if this government is completed, the first effect will probably be a reduction in the number of public officials. However, this conflicts with one of the government's major presidential pledges to increase 800,000 public servant jobs, which was highly controversial."

Yoo said, "Then, when announcing this policy, there should be an organic and mutual flow, either by revising the pledge or modifying the Korean New Deal announcement, but there is none at all. Without fundamental policy changes in this government, I don't think pouring an unlimited 160 trillion won will produce results."

He added, "The national debt that the next government will have to bear varies slightly depending on who looks at the statistics, but it is about 1,200 to 1,300 trillion won. It is hard to say that issuing rosy pledges that the current government cannot complete, which affect the next government, is good strategic policy coordination."

Regarding Kim Jong-in, the Future United Party's emergency committee chairman, saying he is 'optimistic' about next year's Seoul and Busan mayoral by-elections, Yoo said, "From our perspective, it might be a bit cautious to be optimistic about this," and added, "if we consider the necessity of winning the local elections, we think we must work hard."