"Criticism Over Tariff Negotiation Failure and Stock Market Crash"
On August 2, the People Power Party criticized President Lee Jaemyung for taking a summer vacation, stating, "How can he leisurely go on vacation after failing in tariff negotiations, causing a stock market crash, and driving up the exchange rate?"
President Lee Jae Myung is applauding after the remarks of Yoo Jung Bok, Mayor of Incheon Metropolitan City and Chairman of the Korea Council of Governors, at the nationwide governors' meeting held at the Yongsan Presidential Office building in Seoul on the 1st. Photo by Yonhap News
Lee Junwoo, spokesperson for the People Power Party, said in a commentary on this day, "Due to the recent tariff negotiations, our automobile tariff-free benefits have disappeared, and the agricultural and livestock markets are now under threat. Investments in the United States are structured abnormally, with most of the profits flowing to the U.S."
Spokesperson Lee stated, "After President Lee commented that companies with frequent industrial accidents should have their stock prices crash, the stock prices of those companies plummeted, sending 14 million retail investors into panic. Now, the exchange rate is surging sharply, further raising concerns about foreign capital outflows."
Spokesperson Lee added, "Of course, the president can take a summer vacation. However, President Lee has already faced multiple controversies for ignoring various crises, such as the 'tteokbokki mukbang' during the Icheon fire in Gyeonggi Province and the 'potato pancake dinner' on the day of flood fatalities. If he turns away from his duties once again, wouldn't his qualifications as a national leader be questioned? Even now, I ask him to cancel his vacation and faithfully carry out his presidential duties."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
