Korean Prime Minister: "Government Will Humbly Accept Public Will from General Election and Focus on Restoring Livelihoods and Reform Tasks"

Presiding over Cabinet Meeting at Government Seoul Office
Han: "Will Engage More with the 22nd National Assembly"

Prime Minister Han Duck-soo stated on the 11th, the day after the 22nd National Assembly general election (April 10 election), "The government will humbly accept the will of the people expressed in the general election, reflect on whether it has met the expectations of the public in all areas of state affairs, and redouble efforts to promote reform tasks for the recovery of the people’s livelihood economy and the future of the Republic of Korea."

At the Cabinet meeting held at the Government Seoul Office Building that morning, Prime Minister Han said, "I thank the citizens who exercised their precious rights and the public officials who worked hard for fair and transparent election management. We will engage in more dialogue and deeper cooperation with the newly formed 22nd National Assembly and respond together to the will of the people as partners in state affairs."

[Image source=Yonhap News]

He also expressed determination to restore the economy felt by the people. Prime Minister Han said, "From the people's perspective, government ministries cannot be separate," and urged all government ministries to become one team and devote themselves to solving pressing livelihood issues such as inflation and advancing state affairs tasks.

He added, "Please make special efforts to promptly implement the livelihood tasks promised to the people so that they can feel the changes, improve related systems, and provide financial support," and emphasized, "Please do your best to explain in detail and transparently from the people's perspective what intentions and effects the policies promoted by the government have."

He further stated, "With about a month left in the 21st National Assembly, I hope you will work closely with both ruling and opposition parties to process urgent livelihood economy bills as much as possible to achieve a successful conclusion."

Regarding the 2023 national fiscal settlement results reported at the Cabinet meeting that day, he also explained the intention to continue a sound fiscal policy. Prime Minister Han said, "Fiscal policy is the last bastion of the national economy. The government has shifted to a sound fiscal policy, carried out the most intensive expenditure restructuring in history under the goal of curbing national debt to around 53% of GDP by 2027, and has strictly managed the total fiscal volume."

"As a result, the increase in national debt has sharply slowed, and major international credit rating agencies positively evaluate our external creditworthiness," he said. "In particular, despite an unexpected decrease in tax revenue last year, efforts in expenditure restructuring allowed us to manage national debt within the plan without additional bond issuance."

Prime Minister Han added, "Sound fiscal policy is a promise not to pass on debt and burdens to future generations while properly fulfilling the government's responsibilities," and stated, "The government will continue to maintain fiscal sustainability, revitalize our economy, and make greater efforts so that the people can feel the effects firsthand."