Kwon Youngguk Criticizes Government Policy in Seoul National University Lecture
"Politics Should Be Centered on Labor and Distribution"
"Other Parties Must Address the Rise of the Far-Right"
Kwon Youngguk, leader of the Justice Party, who received 0.98% of the vote in the 21st presidential election, criticized President Lee Jaemyung’s policy stance of “transferring real estate funds to stocks,” saying, “Although the president has changed, the focus remains solely on investment and growth.” According to Yonhap News Agency, on the 22nd, Kwon emphasized politics centered on labor and distribution during a special lecture to current students and student party members at Seoul National University’s Gwanak campus.
Kwon said, “Redirecting speculative funds from real estate to other areas is a wise idea,” but added, “Not everyone can make money through investment.” He argued, “Politics should be built around the values of labor and distribution,” and continued, “We should first create a country where people who work hard and sweat can plan for their future, and only then should we talk about fixing the stock market so that it is neither unfair nor undervalued.”
President Lee, even before taking office, had emphasized the advent of the ‘KOSPI 5000 era’ and stated that funds concentrated in real estate investment should be transferred to the stock market. On the 18th, during a meeting with heads of research centers at securities firms, he said, “There is now a lot of money in our country, but that money is mainly being used for real estate investment and speculation, which seems to make the national economy very unstable. I still believe that revitalizing the stock market as an effective alternative investment option for the public is necessary, and I am glad to see there has been at least some progress.”
He also said, “When I was a presidential candidate, I mentioned that simply changing the administration would push the stock index above 3,000, and I am glad that this has actually happened. Someone once said, ‘Leaving the domestic stock market is a matter of intelligence,’ but I hope we can create a situation where people say, ‘Returning to the domestic stock market is a matter of intelligence.’” Recently, the stock market has been setting record highs day after day. On the 22nd, the KOSPI closed at 3,468.65, up 0.68% from the previous trading day.
Meanwhile, Kwon diagnosed the phenomenon of far-right tendencies emerging in some parts of Korean society, saying, “Far-right Protestant groups and politicians who encourage the far-right have joined forces to create a significant bloc.” He continued, “The way to resolve this far-right trend is to help those who are dissatisfied see the underlying structural issues. It is also necessary for progressive parties or the Democratic Party to embrace these grievances. Otherwise, they will remain permanently aligned with the far-right.”
Regarding the role of progressive politics, Kwon stated, “It is to resist the entrenched two-party system.” He emphasized, “People who shouted for equality in the public square as if they were the owners became divided into two camps during the election. This is what needs to change.”
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