Yoon's Comprehensive Message on Liberation Day... From 'Bold Vision' to 'Korea-Japan Cooperation' (Comprehensive)

- Mentioned support measures including food supply programs and infrastructure support for North Korea denuclearization
- Cooperation with Japan in economy, security, society, and culture... "Neighbors who must unite"
- "Remembering sacrifices for independence is a duty and the future... Domestic issues addressed with fiscal austerity"

President Yoon Suk-yeol delivers a congratulatory speech at the 77th Liberation Day celebration held on the lawn of the Yongsan Presidential Office building in Seoul on the 15th. / [Image source=Yonhap News]

[Asia Economy Reporter Baek Kyunghwan] President Yoon Suk-yeol concretized the 'Bold Initiative' for achieving the practical denuclearization of North Korea for the first time in his speech commemorating the 77th Liberation Day. It is a large-scale support plan encompassing extensive food supply programs and infrastructure assistance. Regarding Korea-Japan relations, he mentioned the 'Kim Dae-jung-Obuchi Joint Declaration' and emphasized broad cooperation across economic, security, social, and cultural fields. As a measure to maintain the credibility of the Korean economy, he proposed sound fiscal management through public sector austerity.

◆ Proposal of ‘Bold Initiative’ to North Korea... "Dramatic Improvement in Economy and Livelihood"= The most notable part of President Yoon’s congratulatory speech is the concretization of the 'Bold Initiative' toward North Korea. President Yoon stated that if North Korea abandons its nuclear weapons and moves toward practical denuclearization, he would propose a 'Bold Initiative' including food, medical, power transmission and distribution, and port support. This initiative first appeared in President Yoon’s inaugural address, and the proposal on this day concretizes it.

President Yoon said, "North Korea’s denuclearization is essential for sustainable peace on the Korean Peninsula, Northeast Asia, and the world," and added, "If North Korea transitions to practical denuclearization, it can dramatically improve its livelihood and economy accordingly." He then presented the 'Bold Plan' for North Korea, which includes ▲large-scale food supply programs ▲support for power generation and transmission infrastructure ▲modernization projects for ports and airports for international trade ▲technical support programs to enhance agricultural productivity ▲support for modernization of hospitals and medical infrastructure ▲international investment and financial support programs.

This is the first time President Yoon has disclosed the specific contents of the Bold Plan, a policy for North Korea’s denuclearization transition. On May 10, during his inauguration speech, he stated, "If North Korea stops nuclear development and transitions to practical denuclearization, we will prepare a bold plan to dramatically improve North Korea’s economy and the quality of life of its people in cooperation with the international community."

◆ Succession of the 'Kim Dae-jung-Obuchi Declaration'... "Japan, a Neighbor to Collaborate With"= President Yoon mentioned, "We will inherit the Kim Dae-jung-Obuchi Joint Declaration, which presented a comprehensive future vision for Korea-Japan relations, and quickly restore and develop Korea-Japan relations." The Kim Dae-jung-Obuchi Declaration is the ‘21st Century New Korea-Japan Partnership Joint Declaration’ announced in 1998 by former President Kim Dae-jung and former Japanese Prime Minister Keizo Obuchi. At that time, the two leaders agreed to face the past and open the future.

President Yoon’s remark that "When Korea-Japan relations advance toward the future and their historical mission based on universal values, past issues can also be properly resolved" is in the same context. He added, "Japan, which was once a political ruler from whom we had to free ourselves to regain and protect our freedom, is now a neighbor with whom we must unite to face challenges threatening the freedom of global citizens."

He also emphasized cooperation in various fields. President Yoon said, "The governments and peoples of both countries should respect each other and contribute together to the peace and prosperity of the international community through broad cooperation in economy, security, society, and culture."

[Image source=Yonhap News]

◆ Maintaining International Credibility through Fiscal Austerity= He also proposed solutions for the domestic economy. The core is to maintain international credibility through 'public sector austerity' and 'sound fiscal management.' President Yoon said, "We will operate finances as soundly as possible through austerity and restructuring of the public sector," adding, "The fiscal capacity secured through this will be used to strongly support the underprivileged and socially vulnerable."

Above all, he reaffirmed the policy of investing the fiscal capacity secured by austerity in robust support for the underprivileged and socially vulnerable. Regarding housing measures, President Yoon said, "We will stabilize the housing market by rationalizing various regulations that distort supply and demand," and "We will do our best for housing welfare for the socially vulnerable," including strengthening basic living security, enhancing care services for the disabled, and supporting youth independence in protective facilities.

He also mentioned damage from heavy rains, saying, "We will do our best to support damage relief and recovery and devise fundamental measures," and "We will provide sufficient financial support to small business owners suffering from floods and the resurgence of COVID-19."

◆ "Remember Those Who Devoted Themselves for Independence... It Is Our Duty and Future"= In his commemorative speech, President Yoon emphasized, "On Liberation Day today, we must once again engrave the world-historical significance of the independence movement that connects the past and the future." "We must always remember all those who sacrificed and devoted themselves for the freedom and independence of the Republic of Korea," and "Paying respect and honor to them is not only our duty but also the starting point for future prosperity," he stated.

Regarding the anti-Japanese independence movement, he evaluated, "As seen in the March 1st Independence Declaration, the Shanghai Provisional Government Charter, and the independence spirit of Maehun Yun Bong-gil, it was aimed at establishing a democratic republic where the people are the masters, and a country where freedom, human rights, and the rule of law are respected." He added, "It was never an independence movement to establish a totalitarian state where freedom and human rights are ignored."

President Yoon added, "When I think of those who risked their lives like grass and dust during the dark Japanese colonial period when the future of the homeland was unseen, and those who practiced noblesse oblige by nurturing armed independence fighters both domestically and abroad, my heart still swells and overflows."