President Lee Receives Ministry of Science and ICT Work Report
President Lee: "Inclusive finance must become a reality, not just words"
"Accelerate general-purpose AI development and education, relevant ministries must show strong leadership"
On the 12th, President Lee Jaemyung criticized the financial sector, stating, "Finance is the most survival-of-the-fittest in our society." He reiterated his call for the rapid creation of an "inclusive finance" environment so that ordinary citizens and vulnerable groups can access financial services. He also urged the swift development of universal artificial intelligence (AI) that all citizens can use without burden.
President Lee made these remarks at the Government Sejong Convention Center in Sejong City during a work report session attended by the Ministry of Science and ICT, the Personal Information Protection Commission, the Broadcasting and Media Communications Commission, and other related agencies, under the theme "Korea Leaping Forward Through Innovation and Trust." The Korea Post Financial Development Institute, an affiliate of the Korea Post under the Ministry of Science and ICT, also participated in the work report.
After reviewing the work report from the Korea Post Financial Development Institute, President Lee noted that the section stating "support for inclusive finance for the vulnerable and ordinary citizens is one of the purposes of Korea Post Finance" was the most striking. He pointed out, "In our society, finance is the most liberal, the most exclusive, and the most survival-of-the-fittest. There are many cases where ordinary people are excluded and lose opportunities." He emphasized, "The attitude of pursuing inclusive finance, ensuring that no one is excluded and that even the vulnerable can access financial services, is truly important. Please do not just talk about it, but actually make it happen."
President Lee has consistently criticized the current financial system in public forums such as cabinet meetings and roundtable discussions. Participating in the "Digital Talk Live" in October, he remarked, "Market principles are inevitable, but the extent to which they are applied is a matter of policy judgment," and added, "From my perspective, finance is too ruthless." On November 13, he also commented, "The current (financial) system resembles a 'financial caste system' where the poor are forced to pay high interest rates."
He also called for the rapid development of universal AI and related education that all citizens can use without burden. President Lee stated, "If we do not utilize artificial intelligence (AI), it could become akin to not learning arithmetic or the Korean alphabet. We need to prepare quickly," urging the Ministry of Science and ICT and related ministries to take strong leadership in developing a universal AI model. The Ministry of Science and ICT plans to select some of the five consortia participating in the 'AI Foundation Model Project' after performance evaluations, with the selection scheduled for January 15 next year.
In his opening remarks, President Lee once again emphasized the importance of investment in science and technology. He said, "Societies and nations that respect science and technology and invest in it have prospered," and added, "The eras of King Sejong and King Jeongjo are often cited, as they promoted scientists and technologists regardless of social status, leading to significant social and political progress." He cited the United States' long-term investment in basic science and technology as the reason for its global leadership and noted that China is also catching up through bold investments in science and technology.
He further stressed that combining science and technology and digital policies with the principles of democracy enables a fair market order and the sharing of growth benefits. President Lee stated, "Just as market economies are said to be compatible with democracy, as democracy develops properly, so does the market economy," adding, "The department responsible for advancing science and technology plays a pioneering role in this."
During the Ministry of Economy and Finance's work report held the previous day, President Lee made it clear that expansionary fiscal policies will continue for the time being. He said, "The economic situation continues to trend downward, and national efforts are needed to ensure that it rebounds and follows an upward curve. The budget for the year after next (2027) will also need to be formulated based on expansionary policies."
He also called for speeding up economic policy implementation. Specifically referencing "Coupang," which suffered a large-scale personal data breach, President Lee emphasized that the "Economic Criminal Penalty Rationalization Task Force" must deliver results more quickly. He pointed out that criminal law-based punishment often results in only practical managers, not company presidents or beneficiaries, being penalized, and that investigations and trials can take five to six years to conclude. Therefore, he believes that expanding civil liability for damages and correcting issues through economic sanctions is necessary. President Lee remarked, "Even in this recent 'something-pang' case, they violated regulations. Those people are not afraid of punishment at all," criticizing the lack of deterrence.
The work report from the Ministry of Employment and Labor also revisited Coupang's work practices. President Lee said, "The issue of health rights for night workers is essentially due to Coupang," and added, "New forms of labor require new regulations." He shared a personal story: "My younger sister died in a restroom while working at dawn, and when we applied for industrial accident compensation, it was denied and we lost the lawsuit. For those affected, it is a harsh reality."
During the work report from the Korea Customs Service, President Lee criticized, "It makes no sense to say that necessary work cannot be done due to a lack of personnel." When Commissioner Lee Myunggu cited legal issues and manpower shortages as reasons for difficulties in addressing drugs and firearms, President Lee asked, "What is the problem?" President Lee further questioned, "The issue is the smuggling of drugs into the country, often via international mail using the express delivery system. How do you control this?" When the commissioner replied that inspections are conducted only at the East Seoul Post Office, President Lee pointed out, "I told you to do it. Why hasn't manpower been increased?" When Yoon Changryeol, Minister of Government Policy Coordination, added that inspecting each personal item poses problems, President Lee retorted, "Then is it a violation for sniffer dogs to smell for drugs? That makes no sense. Are you still struggling with legal concerns? It's been months since I raised this issue," expressing his frustration.
The matter was discussed again on this day. When President Lee pointed out, "This may actually be an issue for the postal sorting center rather than the Korea Customs Service," a representative from the Korea Post Logistics Support Group explained, "We have never conducted drug inspection work before, so it took time to review." He added, "We plan to conduct a pilot operation at the East Seoul Sorting Center at the end of this month and, in consultation with the Office for Government Policy Coordination, will prepare measures to expand nationwide within three months."
Regarding the basic income pilot project for rural and fishing villages, President Lee called for accelerating the project, even if it requires an additional call for applications. During the Ministry of Agriculture, Food and Rural Affairs' work report, he received a progress update from Minister Song Miryung and issued this directive. The National Assembly, when passing the budget, attached a proviso that if the local governments' share of the rural basic income project budget does not reach 30 percent, the allocation of national funds will be withheld. In response, President Lee said, "Although there is ongoing controversy, it would be best to give additional opportunities to local governments that agree to allocate 30 percent of local funds through another call for applications. If we are to implement it, we must act quickly."
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