Lee Jae-myung: "Measures to Restore Livelihoods Are Not Populism"

Lee "Government Finance Must Play a Role in Overcoming People's Livelihood"
"I Felt Heartbroken After Hearing the President's Remarks Yesterday"

Lee Jae-myung, leader of the Democratic Party of Korea, stated, "I propose the 'Emergency Measures for Livelihood Recovery,' including the livelihood recovery support fund promised during the general election."

On the morning of the 17th, at the Supreme Council meeting held at the National Assembly, Lee said, "The economy and people's livelihoods are in a comprehensive crisis," and added, "The government should not just talk about 'livelihood' but sincerely respond to the lives of the people suffering on the ground and devise countermeasures." He then mentioned the economic situation in South Korea and the instability of the global economy. He said, "Food prices are rising one after another, and the possibility of public utility fee increases, which had been suppressed, is also anticipated," adding, "The triple crisis caused by the Middle East conflict is intensifying again, and the won-dollar exchange rate has surpassed 1,400 won."

Lee Jae-myung, leader of the Democratic Party of Korea, is presiding over the Supreme Council meeting held at the National Assembly on the 17th. Photo by Kim Hyun-min kimhyun81@

Lee also reiterated the 'livelihood recovery support fund' pledged during the general election campaign. He said, "The economy is dying from the bottom," and argued, "To revitalize our economy, the government’s fiscal policy must play an active role." He added, "About 13 trillion won is needed for the livelihood recovery support fund, and about 1 trillion won for easing loans and interest burdens for small business owners," and stated, "We need to double the low-interest refinancing loans and invest about 300 billion won in energy support for small business owners." Furthermore, he emphasized, "The pain of low-credit borrowers due to high interest rates is too great, and this is precisely the time when the government is needed," adding, "Who would call policies necessary for the majority of the people populism?"

At the meeting, Supreme Council member Park Jeong-hyun fiercely criticized, "Yesterday, President Yoon Seok-youl said that reckless populism ruins the country's future, which appears to be a remark targeting Lee Jae-myung’s livelihood recovery support fund, and this is deeply regrettable." He continued, "Supporting the common people without appropriate prescriptions for the low-income economy is simply dismissed as populism," and said, "The livelihood recovery support fund is a measure that can bring a breath of spring to the common people." On the 16th, the day before, President Yoon stated at the Cabinet meeting regarding the general election defeat that 'economic populism' is "like a drug when viewed in light of our future."