Yoon: "There Is No Free Security... It Is the Basis of All Economic Activities"

President Yoon "Plans to Have Candid Talks with U.S. Vice President Harris"... Expected to Mention IRA and ROK-U.S. Alliance

[Image source=Yonhap News]

[Asia Economy Reporter Ki-min Lee] President Yoon Suk-yeol stated on the 29th, "There is no free lunch in security, and it is the foundation of all economic activities."

President Yoon said during a door-stepping (brief Q&A on the way to work) at the Yongsan Presidential Office that morning, regarding North Korea's ballistic missile launch the previous day, "Yesterday, North Korea fired another missile, so we held a Standing Committee meeting of the National Security Council (NSC). I waited until late at night, received reports, and then left work."

This is interpreted as a statement emphasizing the necessity of the ongoing South Korea-U.S. joint naval exercises in the East Sea while condemning North Korea's ballistic missile launch. President Yoon also pointed out, "North Korea's military provocations have exceeded 20 times this year alone."

At the NSC Standing Committee meeting chaired by National Security Office Director Kim Sung-han the previous day, North Korea's provocations, which continuously violate United Nations Security Council resolutions, were strongly condemned, and it was decided to maintain a constant readiness posture to ensure no gaps in security. Additionally, the execution capability of extended deterrence agreed upon between the South Korea-U.S. leaders and the South Korea-U.S. combined defense posture will be strengthened.

President Yoon announced the progress of the South Korea-U.S. joint naval exercises and the visit of U.S. Vice President Kamala Harris, saying, "At multilateral meetings where more than 100 countries gather, it is difficult to have long, private conversations bilaterally. I plan to discuss the matters we couldn't cover during the state funeral of the former Japanese Prime Minister with Vice President Harris, who is visiting Korea."

That morning, President Yoon met with Vice President Harris at the Presidential Office, emphasizing the strong South Korea-U.S. alliance and plans to reiterate concerns about the U.S. Inflation Reduction Act (IRA), which he raised during a recent conversation with U.S. President Joe Biden.

Furthermore, President Yoon said, "Various economic indicators are difficult, but we will still take good care of our people and the livelihoods of the common people. Our medium- to long-term growth strategy is digital advancement."

He continued, "At the core of enhancing productivity across all industrial sectors through digital advancement is AI (artificial intelligence)."

In line with his visit to Gwangju the previous day to introduce the digital strategy, President Yoon said, "Gwangju is leading in AI, and since the election, I have pledged to support Gwangju's growth as a leading AI city, which I reaffirmed yesterday."

President Yoon added, "A data center is being constructed in Gwangju and is expected to be completed around next year. We are also considering various measures for an education system to nurture AI talent."

In particular, President Yoon emphasized, "We will build national security and our medium- to long-term growth strategy together. We will cushion the public from various economic shocks so that they do not feel discomfort."

Meanwhile, regarding the Democratic Party of Korea's push to dismiss Foreign Minister Park Jin, President Yoon hinted at exercising a veto. He dismissed the move, saying, "(Minister Park) is a person with outstanding abilities. He travels tirelessly around the world for national interests to the point that his health is a concern. The people will clearly know what is right and wrong."