Lee Jae-myung: "Let's at least prevent an economic disaster... There is no ruling or opposition party when it comes to the people's lives"

Lee Jae-myung "Diplomatic disaster is spilt water... Let's at least prevent an economic disaster"

Lee Jae-myung, leader of the Democratic Party of Korea, is delivering a negotiation group representative speech at the plenary session held at the National Assembly on the 28th. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Koo Chae-eun] Lee Jae-myung, leader of the Democratic Party of Korea, said on the 29th, "The diplomatic disaster is spilled water, but please, let's at least try to prevent an economic disaster."

In a post on Facebook that day, Lee said, "With high inflation, high interest rates, high exchange rates, trade deficits, stock market crashes, and household debt burdens, the suffering of the people is growing," adding, "This is a major crisis for our economy and a crisis for people's livelihoods."

In his Facebook post, Lee also stated, "The government's expression of crisis response will and swift initial measures to minimize external economic vulnerabilities will send a clear signal both domestically and internationally." He urged the government to promptly implement measures such as household debt countermeasures, temporary restrictions on short selling, and the conclusion of a Korea-US currency swap to stabilize economic sentiment.

He continued, "We will start with what our party can do," and said, "In this regular National Assembly session, we will correct the government's ruthless budget that will expand polarization and inequality and expand the social safety net." He added, "We will prepare alternatives to minimize the economic crisis and fulfill the responsibilities of the majority party."

Lee said, "There is no distinction between ruling and opposition parties in the lives of the people," and added, "The Democratic Party is ready to take on any role, so let's join forces to prevent an economic disaster and overcome the crisis together."