[Full Text] Moon: "Creating a New Future Amid Crisis Is the Remaining Task"

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] In a special speech marking the 4th anniversary of his term on the 10th, President Moon Jae-in said, "The end is beginning to be seen in the war against COVID-19," urging the public to endure just a little longer. He stated, "Creating a new future amid the crisis is the remaining task of our government," and promised, "We will be a government that does its best to repay until the very last moment."

Below is the full text of President Moon's special speech.

Dear respected citizens,

One year remains in my term.

Normally, this would be the time to think about wrapping up.

But I feel

that the remaining year is more important than any of the past four years.

We are still in a crisis,

and the people have not yet returned to ordinary daily life.

Beyond overcoming the crisis,

creating a new future amid the crisis

is the remaining task of our government.

A more confident Republic of Korea, a better life for the people?that is the goal.

We have already seen hope.

We started the term without a transition committee and have run tirelessly,

but I believe it is our government's unavoidable duty

to keep moving forward until the day the term ends.

It has already been 1 year and 3 months since the COVID-19 outbreak.

We did not expect it to last this long.

We did not expect it to shake humanity's life to its core.

The suffering caused by infectious diseases and quarantine measures,

severe economic damage and unemployment,

the loss of ordinary daily life never experienced before,

to all the people enduring countless hardships,

I offer my deepest condolences.

What is truly grateful is

that in moments of crisis,

the Republic of Korea has shown even greater resilience.

No one expected our country

to become a model quarantine nation ahead of any advanced country.

But we did it.

Among OECD countries,

no one imagined we would be the fastest to recover to pre-COVID economic levels.

But we achieved it spectacularly.

This was possible because of the great people.

Our people endured the long tunnel of hardship,

showing patience, solidarity, and cooperation.

We demonstrated mature civic consciousness envied by the world.

Rediscovering a crisis-resilient Korea

and gaining pride is solely thanks to the people.

Once again, I express my boundless respect and gratitude,

and pledge that the government will do its utmost to repay until the last moment.

Dear citizens,

Please endure just a little longer.

The end is beginning to be seen in the war against COVID-19.

With accelerated vaccination, we are approaching herd immunity.

Even if herd immunity does not end COVID-19,

it will make it a less dangerous disease,

and we will recover our daily lives.

We will ensure rapid economic recovery leads to the restoration of livelihoods,

focusing all efforts on job recovery and resolving COVID disparities and inequality.

We will devote ourselves to a major transition to a leading economy,

laying the foundation for becoming a leading nation.

Together with the great people,

the government will overcome the crisis

and vigorously advance on the path of recovery, inclusion, and leap forward.

Dear citizens,

We have not yet shaken off the unease about the quarantine situation.

However, while COVID-19 cases are increasing worldwide,

our country is controlled within the management scope of quarantine authorities.

Especially, the most important fatality rate

is at a level incomparable to other countries.

Vaccinations so far and domestically produced antibody treatments

have played a major role in lowering the fatality rate.

The government has steadfastly adhered to the principles and basics of quarantine, including proactive testing, thorough epidemiological investigations, and rapid treatment,

and thanks to the active cooperation of the people, enduring economic damage and inconvenience,

K-Quarantine has become a global model to date.

However, invisible infections continue,

and concerns about variant viruses are growing.

We cannot lower our guard for a moment.

Until the situation stabilizes,

the government will undertake even more thorough quarantine management.

The grand journey to restore daily life through vaccination has begun.

It is true that there is some regret that vaccination could have been faster.

We compare ourselves with countries ahead in vaccination.

But since we are not a vaccine-developing country,

and could not make large-scale upfront investments,

our quarantine authorities and experts have meticulously planned vaccine introduction and vaccination according to our quarantine situation,

and are proceeding with vaccination without delay as planned,

which I believe deserves fair evaluation.

Especially amid global vaccine supply shortages and unstable supply,

with fierce competition to secure vaccines,

and with companies lending their strength in all directions,

we have secured twice the amount of vaccines needed for our people.

Considering the possibility of a third dose and preparation for variant viruses,

expanding vaccination targets to minors and children,

and the amount needed next year,

we will continue efforts to secure additional supplies.

We are also increasing the vaccination speed.

We have raised the target

to vaccinate more than 13 million people by the end of June,

complete first doses for all eligible citizens by the end of September,

and advance the goal of achieving herd immunity by November ahead of the original plan.

The government will make full use of our medical system and infrastructure capable of large-scale vaccination.

We ask the people to actively cooperate as well.

Meanwhile, the government will fully support domestic vaccine development

to secure vaccine sovereignty in preparation for prolonged COVID-19.

At the same time, based on the world's second-largest biopharmaceutical production capacity,

we will spare no support to become a global hub for vaccine production.

Dear citizens,

One year ago today,

the world was in the midst of the worst economic recession since the Great Depression,

with borders closed and global supply chains collapsing due to the COVID shock.

Worldwide demand and supply were simultaneously hit,

leading to a complex crisis shrinking both the real economy and finance,

and unprecedented economic crisis with mass unemployment following restrictions on business activities.

One year ago, at this very place,

I promised to devote all capabilities to overcoming the economic crisis with the people.

I said we would not just escape the crisis,

but strive to turn the crisis into an opportunity.

Now, one year later, at the same place,

I am very glad to report to the people

that our economy has recovered to pre-COVID levels faster than any OECD country,

already in the first quarter.

This achievement was made by steadfastly enduring the economic crisis.

It is a national achievement made by households, businesses, and government united as one,

and a source of national pride.

All economic indicators show a solid recovery trend.

Exports until April have reached record highs,

and facility investment is rapidly increasing.

Consumption is reviving,

and economic sentiment has improved to pre-COVID levels.

The world has first recognized the rebound potential of our economy,

and international organizations have collectively raised growth forecasts,

with projections exceeding 4% growth.

The government will achieve a faster and stronger economic rebound.

This year, to achieve over 4% growth for the first time in 11 years,

the government will mobilize all capabilities and boost private sector vitality.

We will lead economic recovery with proactive expansionary fiscal policy,

and prepare bold consumption stimulation and domestic demand boosting measures aligned with quarantine stabilization.

We will actively support preemptive corporate investment,

and especially spare no support to achieve record export performance.

Improved economic indicators do not immediately translate to better lives for the people.

The crisis has deepened inequality.

Only when all citizens feel the warmth of economic recovery

can we say there is a 'complete economic recovery.'

The top priority to achieve complete economic recovery is

job recovery.

Employment is improving, but

has not yet returned to pre-crisis levels.

We will focus policy efforts to ensure recent economic recovery leads to job recovery.

Above all,

we will focus on creating quality private sector jobs.

In March's employment recovery,

private sector job increases played a major role,

a positive change.

In future promising fields such as digital and green industries,

we will expand investment and strongly support talent development and vocational training

to create large-scale jobs.

Especially, by strengthening communication with businesses,

we will expand the foundation for private job creation through regulatory innovation, new industry cultivation, and venture vitality support.

In sectors like shipbuilding,

where employment expansion is expected with economic recovery,

we will support timely supply of skilled workers.

The widening job gap due to the COVID shock is very painful.

We will pay special attention to youth and women, who have suffered greatly.

We will promptly execute job budgets,

and if additional fiscal input is needed, we will not hesitate.

Until the end of the term, we will prioritize jobs

and do our best to create even one more job.

The final destination of complete economic recovery is

to resolve COVID disparities and inequality.

Our government has made reducing economic inequality a national task,

and from the beginning,

has strongly pursued income-led growth and inclusive policies.

We have steadily implemented numerous policies such as minimum wage increases, regularization of non-regular workers, reduction of working hours,

basic pension increases, introduction of child allowances, free high school education,

and strengthening health insurance coverage.

Although there were opposing views concerned about market shocks,

there have been positive outcomes such as strengthened employment and social safety nets,

and improved distribution indicators.

I believe this has been a great strength in overcoming COVID.

However, the COVID crisis has reversed the trend.

The scars COVID has inflicted are very deep.

It has made the vulnerable even more vulnerable,

and inequality has deepened within COVID disparities.

The direct and indirect damage caused by COVID itself is huge,

but in the social and economic changes triggered by COVID,

there are industries and companies that become winners,

and those that are pushed out.

Job changes are expected to increase.

We will continue efforts to alleviate difficulties of industries severely hit by COVID,

small business owners, and self-employed.

We will strengthen the employment safety net through expanded employment insurance coverage and stabilization of the national employment support system.

By establishing a real-time income tracking system,

we will open an era of nationwide employment insurance,

and create a foundation for systematic disaster support and comprehensive welfare.

We will accelerate policies such as introducing sickness benefits and abolishing the obligation to support family members.

We will also pay special attention to alleviating the increased burden and disparities in care caused by COVID.

Housing stability is key to people's livelihoods.

To improve the increasingly serious asset inequality,

we will thoroughly block real estate speculation.

We will firmly protect genuine demand,

and do our best to stabilize the real estate market.

In addition to private housing supply,

we will steadily implement public-led housing supply measures as planned.

We will expand various policy supports to ease the burden on genuine demand

so that homeless low-income citizens, newlyweds, and youth can realize their dream of home ownership.

We will root out real estate corruption.

Learning from the great hurt caused to the public by real estate speculation among public officials and public institution employees,

we will complete fundamental institutional reforms to establish transparent and fair real estate transaction order

and block the root of illegal speculation.

Another name for crisis is opportunity.

The COVID crisis has changed the international economic order.

As their own situations became urgent,

countries moved toward self-help rather than openness and cooperation.

Each country is strengthening the role of the state,

pouring massive national finances,

and fighting desperately to reorganize global supply chains centered on themselves.

In this grave situation,

our economy is turning crisis into opportunity

and becoming a stronger economy.

Last year, despite the crisis, we entered the world's 10th largest economy,

and for the first time, surpassed G7 countries in per capita GDP.

Our core leading industries such as semiconductors and batteries

lead global supply chains based on world-class competitiveness.

The shipbuilding industry has revived from the brink of collapse to become the overwhelming world No. 1,

and automobile production has advanced in eco-friendly vehicles such as electric and hydrogen cars,

entering the world's top five.

Strong manufacturing is revitalizing our economy.

The government will fully support innovation and revival of manufacturing.

Especially for our economy's core industries,

we will strengthen all-round support as national strategic industries

to overcome fierce international challenges and continue leading the world.

The most intense competition to secure global supply chains is in semiconductors.

In the great transformation of the world economy,

semiconductors have become the core infrastructure of all industrial sectors.

Our semiconductors have maintained the world's No. 1 status with 10 consecutive months of export growth,

and system semiconductors have grown into a major export item.

While firmly maintaining the status of world-class Korean semiconductors,

we will use the current semiconductor boom as a stepping stone for a new leap

to protect our national interests.

One year ago today,

I said here that we would strongly promote the transition to a leading economy and the Korean New Deal project.

The Korean New Deal was presented as a national project

to prepare for the post-COVID era,

the non-face-to-face and digital economy,

and to resolve inequality and create jobs.

It was a declaration of a great transformation of Korea,

from a follower economy to a leading economy,

from a carbon-dependent economy to a low-carbon economy,

and from an unequal society to an inclusive society.

Following this declaration, the government decided to invest 160 trillion won, the largest scale since Korea's founding,

building two pillars of the Digital New Deal and Green New Deal on the foundation of employment and social safety nets.

It may have been an unfamiliar idea at the time,

but it has proven to be the right direction.

Now it is not just our path,

but a global universal path.

The tasks we proposed in the Korean New Deal a year ago

have now become global challenges.

The Korean New Deal is now entering its main track with full-scale fiscal input,

and its spread to regions and the private sector is accelerating.

We will vigorously promote the Korean New Deal until the end of the term

to firmly establish the foundation for Korea's great transformation.

The three new industries our government has set as future growth engines?

system semiconductors, bio, and future cars?

are firmly establishing themselves as pillars of the leading economy.

Data, networks, and artificial intelligence industries

are leading technological innovation and pioneering new markets.

Startups and venture industries, emerging as new leaders of the leading economy,

are growing remarkably, to the extent called the second venture boom.

The number of unicorn companies has increased from two in 2016 to thirteen,

and despite the economic crisis,

venture startups, investments, fund formations, and jobs have all greatly increased.

Especially, venture companies becoming rising stars in the stock market

shows that our industrial landscape is greatly changing.

In the KOSDAQ market,

thirteen venture companies are now in the top 20 by market capitalization,

and in the KOSPI market,

four companies are in the top 20.

All are leading companies in bio and information and communication fields,

which have attracted attention during the COVID period.

The second venture boom spreading further amid the COVID crisis

clearly demonstrates the dynamism of our economy.

The government will make new industries and innovative ventures the future of our economy,

and provide full support so they can grow faster and soar stronger.

Dear citizens,

Where there is a will, there is a way.

Ending the era of confrontation and conflict on the Korean Peninsula

and opening an era of peace and prosperity is the wish of 80 million Koreans.

In the remaining year of my term,

I will regard it as the last chance

to move from unfinished peace to irreversible peace.

The long period of reflection is now ending.

It is time to act.

The new U.S. Biden administration has completed its review of North Korea policy.

This is the result of close consultation with us.

We welcome the Biden administration's North Korea policy direction,

which aims for the complete denuclearization of the Korean Peninsula as a basic goal,

and plans to resolve issues through diplomacy based on the Singapore Declaration,

with a flexible, gradual, and pragmatic approach.

Through the upcoming South Korea-U.S. summit scheduled for late May,

we will strengthen the South Korea-U.S. alliance firmly,

coordinate North Korea policy more closely,

restore dialogue among South and North Korea, and the U.S. and North Korea,

and find a path to take steps toward peace and cooperation again.

We will not be rushed or impatient in the remaining term.

But if an opportunity arises to turn back the clock of peace

and advance the Korean Peninsula peace process,

we will devote all our strength.

We expect North Korea's response.

We hope to make peace together and move toward prosperity together.

We have seen a clear possibility that problems can be solved through diplomacy.

We ask the people to also help create an atmosphere for dialogue.

Especially, actions that pour cold water on inter-Korean relations by violating inter-Korean agreements and current laws are never desirable.

The government emphasizes that it cannot avoid strict law enforcement.

Our Republic of Korea

has risen to such a high national status as to be consecutively invited to the G7.

K-Quarantine has become the global standard,

and the world is paying attention to our economy's remarkable resilience and growth potential.

K-Pop, K-Beauty, K-Food, and K-Content have become global brands,

and people worldwide are enthusiastic about Korean culture.

In economy, culture, arts, science, health, and democracy,

through our charm and contributions to the international community,

Korea is advancing as a soft power powerhouse.

This is our pride.

In line with our elevated national status,

we will strengthen our responsibilities and roles in the international community.

Until before COVID, I visited 31 countries 24 times,

and even during COVID, I have had 65 phone or video calls with 48 heads of state and international organizations,

striving to contribute to international solidarity and cooperation.

Going forward, we will actively participate in addressing common human challenges such as infectious diseases and climate change.

At the end of last year, the government declared '2050 Carbon Neutrality.'

Carbon neutrality is an unavoidable task humanity must pursue together.

The government has already been reducing coal-fired power plants early,

and increasing the share of renewable energy such as solar and wind power.

We are accelerating the transition to a hydrogen economy.

Public-private cooperation to speed up energy transition by industry is strengthening,

and carbon neutrality roadmaps are being prepared for all social sectors including power generation, industry, transportation, buildings, and urban infrastructure.

The government will make this year the first year of carbon neutrality in Korea.

The transition to a low-carbon economy is not just an environmental policy.

It will create new technologies and industries,

and be a tremendous opportunity to create many jobs.

The P4G Summit to be held in Korea at the end of this month

is a great opportunity to demonstrate our leading role

while strengthening international cooperation to address climate change.

As a responsible middle power,

we will use it to raise Korea's status.

Dear citizens,

The remaining year of my term is

short if short, long if long.