Park Chandae: "KOSPI Surpasses 2,900... Public Expectations Influence Stock Prices"

Democratic Party Supreme Council Meeting on June 11
Emphasis on Supplementary Budget for Livelihoods and Future Investments

Park Chandae, Acting Party Leader and Floor Leader of the Democratic Party of Korea, stated, "The KOSPI has surpassed 2,900 and the exchange rate has fallen to 1,363 won," adding, "Public expectations are influencing both stock prices and the exchange rate."

Park Chandae, Acting Party Leader and Floor Leader of the Democratic Party of Korea, is speaking at the Supreme Council meeting held at the National Assembly on June 11, 2025. Photo by Kim Hyunmin

At the Supreme Council meeting of the Democratic Party held at the National Assembly in Yeouido on June 11, Park said, "The Democratic Party, as the ruling party, will support the political arena to be filled with hope and the economic arena to grow even stronger," delivering this message.

Park pledged to do his utmost as the ruling party to revive people's livelihoods and the economy. He said, "The employment index is at its worst since the IMF crisis, and as consumption across all age groups declines, a vicious cycle is continuing where small business owners are struggling." He added, "This economic downturn is even harsher for the socially disadvantaged and vulnerable groups."

He continued, "However, among the previous administration's budgets, there was 1 trillion won in unused funds for projects such as energy welfare support for low-income groups, expansion of the basic pension, and youth career and employment support." He pointed out, "If the previous administration had executed the budget responsibly, the damage to vulnerable groups and young people could have been reduced."

He said, "It must be corrected even now," and added, "Through a supplementary budget for people's livelihoods, we will breathe warmth into the lives of the people and focus all our efforts on preparing policies that the public can feel in their daily lives."

He also stated that the supplementary budget would not be spared for investments in the future, as well as for people's livelihoods. Park said, "If we do not invest in future growth engines such as artificial intelligence (AI), tomorrow will bring new fears." He continued, "Although our technological capabilities and human resources are excellent, there is still a long way to go."

He emphasized, "The Lee Jaemyung administration has demonstrated a strong commitment to fully supporting related industries by establishing the position of Chief Secretary for AI immediately upon inauguration." He added, "As the ruling party, the Democratic Party will actively support the Lee Jaemyung administration's investments for the future."