Senior Presidential Secretaries Meeting Presided Over by President on the 19th
Lee: "Only by Eradicating Collusion at the Root Can the Economy Leap Forward"
President Lee Jaemyung is speaking at a senior presidential secretaries' meeting held at the Blue House on the 19th. Yonhap News
On the 19th, President Lee Jaemyung said, "Anti-market collusive practices are deeply entrenched throughout our economy and industry," and ordered that, if similar behavior is repeated, "we should actively consider measures to permanently expel the offenders." He also reiterated his determination to normalize the real estate market, declaring that he would "overcome the ruinous real estate republic."
At a meeting of senior presidential secretaries held at the Blue House on the afternoon of the same day, President Lee said, "Collusive practices that abuse market dominance are a cancerous presence that blocks fair conduct, undermines trust in the market, and hinders the development of the national economy," adding, "Only when such vile crimes are eradicated at the root can qualitative leaps in our economy become possible." President Lee also cited sugar, flour, meat, school uniforms, and real estate as sectors where collusion is rampant.
President Lee stressed, "Heavy sanctions that far exceed the gains from collusion must follow," and added, "The sanctions should not be merely formal measures such as criminal punishment, but should be substantive economic sanctions, such as depriving offenders of economic interests or increasing their economic burdens." He then instructed, "Since all of this is done in the pursuit of profit, punishment does not seem to be very effective. I call for strong and swift, pan-government responses to root out these market-disrupting forces."
In addition, President Lee stated, "On the basis of the great potential of our sovereign people, we will stride vigorously toward a better tomorrow than yesterday," and continued, "We will overcome the ruinous real estate republic that fuels inequality and despair, establish a social order that is fair and rational for everyone, and work together to build an economy of shared, continuous growth and development."
He again called on the public sector to play its part. He said, "Every public official must never overlook any matter, no matter how small or trivial it may seem, and must bring about changes that people can truly feel through swift, proactive, and bold administration," adding, "We will put in place protection systems so that no public official suffers disadvantages for engaging in proactive administration to improve people's lives, and I ask you to actively identify and utilize reward programs for proactive administration that recognize public officials who contribute to improving people's livelihoods."
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