30th Day in Office Press Conference
Vision for "A Society Where Everyone Prospers Together"
Pledge for Future Investments in AI, Semiconductors, and More
Preparing for the "KOSPI 5000 Era"
On July 3, President Lee Jae Myung stated, "I will build a nation that grows and leaps forward once again," identifying the stabilization of people's livelihoods and economic growth as his top priorities.
On this day, President Lee held a press conference marking his 30th day in office at the State Guest House of the Blue House. He declared, "We will mobilize all possible measures to stabilize people's livelihoods and alleviate the burden of living expenses on the public."
President Lee assessed the current situation by saying, "Although we have barely opened the first gateway to normalizing the nation, the path ahead remains steep and challenging." He explained that domestically, the country faces multiple overlapping crises in various sectors, while externally, a major civilizational transformation threatens national survival.
On July 3, 2025, citizens are watching Lee Jae Myung's 30-day presidential inauguration press conference in the waiting room of Seoul Station, Jung-gu, Seoul. Photo by Kang Jinhyung
He stated that, under these circumstances, his administration is fully committed to restoring the livelihoods of the people. President Lee said, "As my first directive after taking office, I immediately activated the Emergency Economic Task Force to seek solutions," and added, "We have prepared a supplementary budget of 30.5 trillion won faster than any previous administration." He emphasized that, given the critical importance of an active and bold role for public finances at this time, he urges the National Assembly to swiftly pass the supplementary budget bill.
The government has drawn up a supplementary budget that includes a 13.2 trillion won 'Livelihood Recovery Consumption Coupon' support plan and 600 billion won in local currency (regional gift certificates). The Livelihood Recovery Consumption Coupon will be distributed to all citizens, with each individual receiving between 150,000 and 500,000 won depending on circumstances, to stimulate consumption. The local currency aims to revitalize the economy and support small business owners.
When asked about the expected effects of the supplementary budget, President Lee replied, "During the COVID-19 pandemic, Gyeonggi Province took the lead by providing 100,000 won in local currency, and it was clearly an effective measure to boost domestic demand," adding, "The income redistribution effect is also significant." However, regarding the possibility of additional livelihood recovery support payments, President Lee drew a line, saying, "For now, there are no plans for additional payments," and "The fiscal situation is not favorable enough to allow for further disbursements."
For his future economic vision, President Lee presented the goal of "a society where everyone prospers together." He aims to overcome current difficulties and establish sustainable growth engines. To this end, he pledged not to spare investments for the future in advanced technology industries such as artificial intelligence (AI) and semiconductors, renewable energy industries including energy highways, and the cultural industry.
He also announced plans to prepare for the "KOSPI 5000 era" to ensure that technology-driven growth gains momentum. President Lee stated, "We will ensure that our companies lead the global market and that our people have opportunities to invest in growing companies, thereby increasing national wealth." He further emphasized, "We will make every effort to restore a virtuous economic cycle by channeling funds from unproductive to productive sectors."
Regarding the stock market's recent surge, including the KOSPI surpassing the 3,000 mark since his inauguration, President Lee gave a positive assessment. He said, "It is fortunate that a change in administration alone has led the public to have a more optimistic outlook on the future, which is reflected in the stock market and has slightly fattened people's wallets." He expressed confidence that, "If visible institutional improvements such as the stabilization of the peace regime on the Korean Peninsula or amendments to the Commercial Act are achieved, the situation will improve even further." On this day, the ruling and opposition parties supported expectations for stock market revitalization by processing the Commercial Act amendment, one of President Lee's campaign pledges, at the Legislation and Judiciary Committee.
The 'hot potato' of the real estate market was also addressed. Recently, the government announced strong lending regulations, such as limiting the maximum amount of mortgage loans to 600 million won, clearly stating its intention to redirect capital flows from real estate to the stock market. President Lee said, "We will strive to stabilize the real estate market with effective measures based on the fundamental principles of respecting market mechanisms and protecting genuine end-users."
He also stressed the importance of balanced growth. His plan is to achieve "growth for all" through "balanced national development" to overcome the single-core structure centered on the metropolitan area, and "balanced industrial development" where large corporations, small and medium-sized enterprises, established companies, and ventures or startups cooperate and coexist.
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