Lee Jae-myung: "The Approval of the Impeachment Motion on the 14th is the 'Major Premise for Economic Recovery'"

National Assembly to Vote on Yoon's 2nd Impeachment Motion on the 14th
Opposition Forms 'Emergency Economic Inspection Meeting'... 'People's Livelihood Actions'
Lee: "Ruling and Opposition Parties, Government, Let's Work Together to Overcome the Crisis"

Lee Jae-myung, leader of the Democratic Party of Korea, referred to the current economic crisis on the 11th, stating, "Resolving political uncertainty through the impeachment vote on the 14th is the biggest prerequisite for economic recovery." The National Assembly is preparing for the second vote on the impeachment motion against President Yoon Seok-yeol, scheduled for this Saturday, the 14th.

Lee made these remarks during the Democratic Party's Emergency Economic Inspection Meeting held at the National Assembly that morning. While presiding over the first meeting, he repeatedly emphasized the need to restore the people’s economy. He said that to revitalize the people’s economy, 'uncertainty' must be eliminated. As specific measures to remove uncertainty, he mentioned the abolition of the financial investment income tax (금투세) and the postponement of virtual asset taxation, along with the approval of the impeachment motion against President Yoon.

Lee Jae-myung, leader of the Democratic Party of Korea, is speaking at the Emergency Economic Inspection Meeting held at the National Assembly in Yeouido, Seoul, on the morning of the 11th. Photo by Yonhap News

At the meeting, Lee stated, "The emergency economic inspection meeting involving the ruling party, opposition parties, and the government proposed by the Democratic Party has not yet been formed," adding, "We launched it to start at least among ourselves first." On the previous day (the 10th), Lee requested the People Power Party and the government to form a consultative body to respond to the economic situation. Although the Ministry of Economy and Finance reportedly expressed a positive intention, the ruling party has not responded.

Lee also said, "The Democratic Party will maintain an emergency system, closely monitor the economic situation, and prepare alternatives," adding, "We will focus solely on the people and examine economic policies." He continued, "There can be no division between the ruling and opposition parties in the face of public anxiety," and urged, "The ruling party, opposition parties, and government must join forces to overcome the current crisis well." Furthermore, addressing the public ahead of year-end events, he noted, "The cancellation rate of event reservations is about 40%, which is causing significant damage to self-employed people," and suggested, "While fighting hard, shouldn’t we also spend good times with our neighbors?"

In this way, Lee is leveraging his 'people’s livelihood activities' to tap into economic anxiety. On the 9th, he visited the site of the nationwide railway labor union strike to hear the labor sector’s opinions. The day before, members of the National Assembly’s Planning and Finance Committee visited the Bank of Korea, and members of the Political Affairs Committee visited the Korea Exchange to examine the current status of the financial sector and capital markets. The Democratic Party appears to be further strengthening its argument that President Yoon should be impeached by using the 'economic crisis' as a key issue.