"Martial Law Bill: 500,000 Won Per Household"
"Our Economy Faces a Serious Emergency"
Lee Jae-myung, leader of the Democratic Party of Korea, pointed out that the economic loss caused by the declaration of emergency martial law on December 3 amounts to 6.3 trillion won in real GDP (Gross Domestic Product).
On the morning of the 22nd at the Supreme Council meeting held at the National Assembly, Lee said, “The expected emergency martial law bill has finally landed before the people,” and claimed, “It is said that 6.3 trillion won of real GDP has evaporated due to the shock of martial law. That is 500,000 won per household.”
He emphasized, “This proves that our economy is in a serious emergency situation,” and added, “The biggest enemy of the economy is uncertainty.”
Lee Jae-myung, leader of the Democratic Party of Korea, is speaking at the Supreme Council meeting held at the National Assembly on the 22nd. Photo by Kim Hyun-min
He continued, “We must resolve political uncertainty and make the heart of the stalled economy beat again,” and said, “We need to revive the neighborhood economy by expanding the local currency budget and strengthen support for vulnerable groups who have suffered the greatest damage in this crisis.”
Regarding U.S. President Donald Trump’s expression of willingness to resume North American talks shortly after his inauguration, he expressed a welcoming stance. Lee said, “I hope President Trump’s will will ease the crisis situation on the Korean Peninsula and lead to denuclearization, inter-Korean exchanges, and peace on the Peninsula,” and added, “In the Trump era, a practical strategy to minimize shocks to our economy and industry and reduce uncertainty is more important than anything else.”
He said, “Yesterday, President Trump instructed to review the abolition of preferential subsidies for electric vehicles,” and added, “We must be well prepared for how this will affect our export-driven industries including automobiles, as well as trade and commerce overall, and prepare response plans by issue and industry.”
He also said, “The same goes for tariffs and defense cost-sharing issues,” and added, “The government, the National Assembly, companies, and the private sector must unite, cooperate, and pool wisdom. The Democratic Party will also actively strive.”
Regarding the phrase “Recovery and Growth, Great Republic of Korea Again” written on the backdrop in the party leader’s office that day, he explained, “Our Republic of Korea is a great country,” and said, “Since President Yoon Seok-youl’s inauguration and the People Power Party’s rise to power, the national prestige has fallen, so the core task is to restore this greatness.”
In response to the controversy that the phrase “Recovery and Growth, Great Republic of Korea Again” overlaps with the Yoon Seok-youl administration’s slogan “Again, Korea, a New Nation of the People,” Lee said, “I knew it overlapped, but I insisted on using it,” and emphasized, “So what if it’s a slogan used by President Yoon? I believe one of the tasks we must do is to prevent words from being polluted. Now is the time to completely shift to pragmatism beyond ideology and political camps.”
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