First Meeting of the People's Livelihood Special Committee: "Urgent Measures Needed for Dual Challenges of Domestic Demand and Exports"

"We Must Not Miss the Golden Time for Economic Recovery"

The People Power Party launched the Special Committee on Economic Vitality and Livelihood to stabilize the people's economy and held its first meeting. They shared a consensus that extraordinary measures are needed to address the difficulties faced by the public amid growing domestic and international uncertainties.

Kwon Seong-dong, Emergency Response Committee Chairman of the People Power Party, is speaking at the appointment ceremony and the first plenary meeting of the Special Committee on Economic Vitality and Livelihood held at the National Assembly on the 21st. Photo by Kim Hyun-min

On the morning of the same day, Kwon Young-se, the Emergency Response Committee Chairman of the People Power Party, attended the first plenary meeting of the 'People Power Party Special Committee on Economic Vitality and Livelihood' held at the National Assembly, and diagnosed, "South Korea is going through a political upheaval, and the livelihood economy is extremely difficult," adding, "It is urgent to revive the domestic economy suffering from high interest rates, high prices, and high exchange rates."

Chairman Kwon explained that the special committee was formed to not miss the 'golden time' for economic recovery. He said, "With the inauguration of the Trump administration, external uncertainties have increased, and there is a high possibility that both exports and domestic demand will face double hardships," emphasizing, "Extraordinary measures are necessary."

He also stressed that they would present policies differentiated from those of the Democratic Party of Korea. Chairman Kwon promised, "While the Democratic Party of Korea only proposes populist policies that distribute cash to all citizens, the People Power Party will present real policies to solve the difficulties of the people." He explained that they plan to start filling in areas closely related to daily life with policies embracing the vulnerable, such as senior citizen policies in response to the entry into a super-aged society, protection policies for workers in small businesses, increasing single-person households, isolated and reclusive youth, and housing-vulnerable groups.

Kwon Seong-dong, the floor leader of the People Power Party, pointed out, "It is difficult for the Yoon Seok-yeol administration to avoid failing in the economy," adding, "It is a time when more innovative ideas are needed." He continued, "Compared to the Democratic Party, we need to give the image that our policies are better to win the hearts of the people."

Yoon Hee-sook, the chairwoman of the special committee and head of the Yeouido Institute, expressed her ambition, saying, "We will eliminate the shadows in society and pave the way toward the future," and added, "We will hold weekly sessions to raise agendas on the most important economic and social issues of our time and make policy proposals while coordinating with the party."