President Moon Jae-in publicly apologizes for South Korea's economic woes
South Korean President Moon Jae-in on January 2 publicly apologized for the economic difficulties the East Asian country is experiencing, which are said to be the result of his reform policies.
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| South Korean President Moon Jae-in. Source: Reuters |
"We are well aware of the fact that (the country's) development can be sustained and (the people's) daily happiness can be ensured when every citizen enjoys the benefits of economic growth. However, that requires changing the foundation and framework of economic policy, which will take time and spark heated debates," President Moon Jae-in said at a special New Year's meeting with about 300 South Korean business leaders in Seoul.
He emphasized that the Korean economy is growing more than ever, with total export value reaching 600 billion USD in 2018 - the most impressive figure in the history of the Land of Kimchi.
South Korea also became the 7th country in the world with a population of more than 50 million and a per capita income of 30,000 USD. The minimum wage for citizens was also increased by 10.9% to 8,350 won (about 7.5 USD) per hour of work from January 1, 2019.
President Moon Jae-in stressed, "2018 is the year we set the direction of our policies and create an institutional framework to change the structure of our economy and society. In 2019, we will do our best to ensure that the results of those policies are felt by all people."
Mr. Moon emphasized that the Korean Government will continue to create more new jobs, and is committed to promoting investment cooperation by creating favorable investment environments.
In his speech, President Moon Jae-in also announced continued efforts to strengthen peace on the Korean Peninsula.
"Over the past year, we have lived in the new hope that peace can create. But the peace we enjoy now is only temporary. The government will do its best so that the wave of peace will become a big and irreversible wave in this new year," he stressed.
Also on January 2, according to a VNA reporter in Seoul, the Korean Broadcasting System (KBS) announced the latest poll results on voters' support for President Moon Jae-in in his third year in office.
55.2% of voters gave a positive assessment of President Moon Jae-in's performance in governing the country, while 41.7% gave the opposite answer. Compared to the two polls conducted by KBS last year, the percentage of voters who support the President has decreased.
The two areas that voters rated the President as doing best were inter-Korean relations and foreign policy. Meanwhile, the issue of employment was chosen by voters as the top policy issue that the President should focus on promoting in the coming time. In particular, voters in their 20s actively asked the President to solve the employment problem.
65% of voters said the current government's economic policies have not achieved results, while only 33% said they have achieved results. 20.8% of voters said the government should both maintain the current policy direction and speed up implementation.
9.2% of voters said the government should maintain the current situation, 27.7% said the policy direction is correct, but the speed of implementation needs to be adjusted.
In contrast, up to 40% of voters said the government needed to change its policy direction.
The voter support rate for the ruling Democratic Party was 41.1%, the opposition Liberty Korea Party was 13.5%, the Justice Party was 9.8%, the Future Forward Party was 7.8%, and the Democratic Peace Party was 1.5%./.
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