Lee Jae-myung "Ministry of Economy and Finance Needs Normalization... Doubts About Political Judgments"

Housing Supply in Greenbelt Areas Without Preservation Value
Basic Series "No Intention to Give Up"
"Hair Loss Medication Coverage by Health Insurance Is a Quite Good Item"

[Image source=Yonhap News]

[Asia Economy Reporter Lim Chun-han] Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, stated on the 4th regarding the friction with the Ministry of Economy and Finance over supplementary budget formulation and disaster relief funds, "I have doubts about whether the Ministry of Economy and Finance is making political judgments."

Lee appeared on Yonhap News TV's 'News Prime' in the afternoon and said, "The appointed power of the executive branch should follow the command of the elected president, but it is reversed, so it needs to be normalized."

Lee pointed out, "I often hear that the Ministry of Economy and Finance is the superior institution of all ministries, does not listen to the Prime Minister, and even clashes with the president and the Blue House. I wonder if this really aligns with popular sovereignty." He added, "The Ministry of Finance and the Planning and Budget Office were merged, which has efficiency aspects, but each ministry becomes too subordinate. It is almost impossible for each ministry to create and implement policies creatively and autonomously; it is like they are just getting approvals."

Lee said, "Let's separate them like in the past," and added, "Since the budget is the most important, wouldn't it be better to place it directly under the president in the American style?" He explained, "If the budget formulation function is handed over to the National Assembly, it will really become politicized. Rather, if inefficiency occurs, the White House system could be efficient and a way to prevent politicization."

As one of the core solutions to the real estate problem, Lee pointed to 'sufficient supply' and suggested methods such as ▲ temporary phased exemption of capital gains tax ▲ increasing floor area ratio and easing floor regulations ▲ developing new residential sites through undergrounding of elevated railways and highways.

Lee said, "If new supply is made through public housing sites, it can be supplied at less than half of the current market price," and added, "If we find green belts that are damaged and have no preservation value and supply housing there, it could actually align with the public interest."

Regarding his past policy brand, the Basic Series, Lee said, "I have no intention of giving up," but acknowledged, "It is true that the emphasis has been slightly adjusted between when I was a challenger and when I am in a responsible position."

On former party leader Lee Nak-yeon's accompanying visit to Honam, Lee said, "The public expects one camp not to be divided but to cooperate and unite, even if imperfect or unsatisfactory, and to fulfill their responsibilities," and added, "In fact, the campaign committee is a preview of how the government will be run if we come to power."

Regarding the pledge to include hair loss medication under health insurance, Lee said, "I have people around me suffering from hair loss, so I thought, 'This is also a health issue, so why isn't it covered by insurance?' It is quite a good item," and added, "I told them to review it."

Lee said, "Politicians are mostly interested in grand narratives, but in fact, life is made up of very small things," and added, "We are proposing 'small but certain happiness' policies that can provide small but definite happiness, and I thought this would be a very good one among them."