Yoon: "Economic Populism Aligns with Collectivism and Totalitarianism... Like a Drug" (Update)

De Facto Lee Jae-myung's 250,000 Won Livelihood Recovery Support Fund Targeted
Reflecting on General Election Defeat... Yoon "I Will Listen to Public Sentiment First"

President Yoon Suk-yeol on the 16th pointed out that economic populism is "like a drug when viewed in light of our future." This is interpreted as a criticism of Lee Jae-myung, leader of the Democratic Party of Korea, who proposed a 250,000 won per person livelihood recovery support fund as a pledge for the April 10 general election.

In his opening remarks at the Cabinet meeting held live at the Yongsan Presidential Office that morning, President Yoon stated, "Economic populism corresponds to political collectivism and totalitarianism."

President Yoon reiterated his criticism, saying, "Indiscriminate cash support and populism ruin the country's future." This is interpreted as his stance that the 250,000 won per person livelihood recovery support fund, pledged by Lee who has advocated for basic income and related series, and now showing signs of being pushed in the 22nd National Assembly, is practically unacceptable.

President Yoon also indicated his intention to continue existing welfare for the vulnerable. He instructed Cabinet members, saying, "It is the government's duty and responsibility to carefully observe the difficulties our people are currently facing. Especially, we must take better care of those struggling on the margins, one by one."

[Image source=Yonhap News]

He also mentioned government-level reflection on the defeat in the April 10 general election. President Yoon pledged, "We must humbly accept the public sentiment revealed through this election. With a lower posture and more flexible attitude, we will communicate more, and I will personally listen to the public's voice."

He referred to economic issues such as budget, inflation, finance, stocks, and housing, as well as educational issues like private education and childcare, saying, "No matter how many times the government pursues the right direction and good policies, if the people do not actually feel the change, the government has not fulfilled its role." He also promised to promote tailored policies by more accurately grasping field demands to narrow the gap between future policies and the field.

He expressed his intention to continue the three major reforms in labor, education, and pensions, as well as medical reform, while paying more attention to and listening to reasonable opinions.

On the occasion of the 10th anniversary of the Sewol ferry disaster, he said, "Although 10 years have passed, the situation of that day, April 16, 2014, is still vivid in my mind," and offered condolences, saying, "I pray for the repose of the unfortunate victims and once again extend my deepest sympathies to the bereaved families."