[Full Text] President Moon Jae-in's New Year's Address "Repaying the People's Efforts with Tangible Change"

[Asia Economy Reporter Ryu Jeong-min] Dear respected citizens,

The new year of Gyeongja (庚子) has dawned.

Having commemorated the meaningful 100th anniversary of the March 1st Independence Movement and the establishment of the Provisional Government,

this year marks the 60th anniversary of the April 19 Revolution and the 40th anniversary of the May 18 Democratization Movement,

reminding us of the noble spirit that protected our democratic republic by raising candles three years ago.

Following the solemn mandate of the people to create a just, safe, more peaceful, and happier “nation worthy of the name,”

our government has chosen bold change.

Through fundamental changes and reforms in the economic and social structures,

we have unwaveringly worked to eliminate widespread unfairness and privilege in our society,

and to overcome inequality and polarization.

Many citizens have walked this unfamiliar path with us.

Thanks to the public enduring inconveniences and difficulties while supporting us,

the government has been able to firmly establish the framework of a “country where all prosper together” and an “innovative inclusive nation.”

We deeply thank the citizens who have done their best in their respective places,

and this year, we will repay the people's efforts with “certain change.”

Dear citizens,

2020 will be a year when the lives of myself and my neighbors improve evenly,

and the economy will leap forward vigorously.

To this end, we will ensure that citizens can feel “certain change” in “inclusion,” “innovation,” and “fairness.”

First, we will make “inclusion” reach every corner of our society,

making citizens’ lives warmer.

Jobs are the foundation of citizens’ lives.

Last year, the government invested the largest budget ever in jobs.

We strengthened customized job support for youth, women, and the elderly,

and made all-out policy efforts to create private sector jobs.

As a result, jobs have shown a clear recovery trend.

Last year, new employment increased by 280,000,

recording the highest employment rate ever,

and the youth employment rate reached its highest in 13 years.

With a significant increase in regular workers,

the number of employment insurance subscribers rose by more than 500,000,

and the wage gap between large and small-medium enterprises narrowed, improving job quality.

This year, we will further spread this trend.

In particular, we will resolve employment sluggishness among those in their 40s, the backbone of our economy, and in manufacturing.

We will prepare customized comprehensive measures for retirees and job seekers in their 40s,

and strengthen regulatory innovation and investment incentives to encourage the private sector to create more jobs.

By introducing “simultaneous parental leave for couples,”

we will create better conditions for raising children while working,

and promote labor market entry for women, youth, and the elderly through support such as the “Youth Additional Employment Incentive” and “Elderly Continued Employment Incentive.”

Along with this, we will take a step closer to a “society where labor is respected.”

To leap forward as a genuine advanced country,

the source of competitiveness must be people-centered creativity and innovation, and advanced labor-management relations,

not low wages and long working hours.

The government has worked to improve workers’ quality of life through measures such as reducing working hours and raising the minimum wage.

As a result, for the first time since statistics began,

annual working hours fell below 2,000 hours, and

the proportion of low-wage workers dropped below 20%.

While unionization rates reached their highest since 2000,

the number of lost workdays due to strikes was the lowest in 20 years.

“Local win-win jobs” have also spread from Gwangju to Miryang, Daegu, Gumi, Hoengseong, and Gunsan.

This year, we will further increase citizens’ sense of change.

We will support the stabilization of the “52-hour workweek” for small and medium enterprises with fewer than 300 employees,

and enhance the rationality and transparency of the minimum wage determination system.

Through the Korean-style unemployment assistance system, the “National Employment Support System,” and the “National Tomorrow Learning Card System,”

we will strengthen the employment safety net.

We will also continue to increase “local win-win jobs.”

Thanks to last year’s inclusive policies such as raising the basic pension and expanding the earned income tax credit,

all three major distribution indicators?Gini coefficient, quintile ratio, and relative poverty rate?have improved.

Household income increased evenly across all classes,

especially turning upward for the lowest income first quintile.

This year, we will show more “certain change.”

By relaxing the support obligation criteria of the basic livelihood security system,

more households will benefit,

and we will expand support for low-income vulnerable groups through earned income tax credit (EITC) expansion and basic pension increases.

We will strengthen health insurance coverage,

especially significantly reducing medical expenses for severe diseases, vulnerable groups, and children,

so that people can receive treatment without worrying about hospital bills.

Free high school education, which started last year for third-year high school students, will be extended to second-year students this year,

completed for all grades next year, and student loan interest rates will be lowered,

ensuring everyone has sufficient educational opportunities.

For self-employed and small business owners facing difficulties,

we will further expand financial, tax, and commercial district revitalization support.

We will boldly transform the agricultural policy framework.

The rice price, which was around 130,000 won in 2016, has recovered to 190,000 won,

and farm household income has surpassed 40 million won, and fishing household income 50 million won.

To stabilize farm and fishery household income, we will newly introduce the “public interest direct payment system” from this year,

and promote the “public interest direct payment system in fisheries” as well.

A “Safe Korea” is the wish of all citizens.

Our government has promoted the “Three Major Projects to Protect Citizens’ Lives” to prevent traffic accidents, industrial accidents, and suicides,

and has devised comprehensive measures including enacting a special law to respond to fine dust.

As a result, last year, the number of deaths from traffic accidents and industrial accidents significantly decreased,

and the annual average fine dust concentration improved, showing results.

However, it is still insufficient.

Efforts for safety can never end.

We will vigorously pursue existing policies,

add a “comprehensive child safety plan,” and make every effort to ensure citizens’ safety.

We will prepare special measures for winter and spring seasons with high fine dust levels,

and implement strengthened preemptive measures until March.

Through seasonal management systems, suspension of coal-fired power plants, reduction and prohibition of operation of old vehicles,

regional air quality improvement measures, and use of eco-friendly ship fuels,

we will create definite changes in air quality.

We will also strengthen cooperation with China to respond to external factors.

Dear citizens,

Just as we leapt to become the world’s 10th largest economy in half a century,

we can lead the Fourth Industrial Revolution era.

We will strengthen “innovation” to make our economy leap more vigorously.

Despite delays in passing innovation growth-related bills last year,

new venture investment exceeded 4 trillion won,

and five new unicorn companies were born.

With over 200 “regulatory sandbox” special approvals

and designation of “regulatory free zones” in fourteen cities and provinces,

market launches of innovative products and services have accelerated.

With the world’s first commercialization of 5G,

we ranked first and second in the world in the device and equipment markets respectively,

and exports of electric and hydrogen vehicles increased more than twofold and threefold respectively.

Our ICT sector’s national competitiveness has consecutively ranked first in the world,

and our efforts toward innovation are bearing fruit one by one.

This year, we will spread the spirit of innovation throughout the economy.

We will support the growth of venture startups

to create more unicorn companies.

We will nurture the three new industries?system semiconductors, bio-health, and future cars?as “second and third semiconductor industries,”

and expand investment in data, networks, and artificial intelligence,

solidly building the foundation of the Fourth Industrial Revolution.

We will further increase the use of the “regulatory sandbox,”

and resolve conflicts among stakeholders in new industries

through customized mediation bodies to create social compromise.

Last year, we confirmed the “power of coexistence.”

In response to Japan’s export restrictions,

companies, labor, government, and citizens united to localize core materials, parts, and equipment.

The whole nation joined the goal of an “unshakable country.”

Though it was something not achieved for decades,

meaningful results were achieved in just half a year.

Now, core items that depended on imports from Japan are being replaced by domestic production.

Some items have also achieved results in attracting foreign investment.

This year, to strengthen the competitiveness of the materials, parts, and equipment industry,

we will invest more than twice last year’s budget, 2.1 trillion won,

and designate 100 specialized leading companies and 100 strong small and medium enterprises,

supporting them to grow into global companies beyond localization.

We will restore vitality to our economy,

and make citizens feel “certain change” through an improved economy.

Although the global economy is gradually recovering this year,

and a rebound in the semiconductor market is expected,

external uncertainties such as trade conflicts and geopolitical disputes remain.

Structurally, potential growth rates are declining,

and the working-age population decreased by 230,000 compared to last year, posing difficulties.

However, we will overcome any difficulties.

This year, we will turn exports and facility investment positive,

linking them to growth rate increases.

Last year, despite the US-China trade conflict and global economic downturn,

we maintained the world’s 7th largest export rank,

recorded $1 trillion in trade for three consecutive years, and achieved trade surpluses for 11 consecutive years.

Exports of electric vehicles, hydrogen vehicles, and bio-health products have rapidly grown as new export engines.

Despite a sharp drop in semiconductor prices,

export volumes showed resilience.

Exports to the New South region exceeded 20% for the first time last year,

and exports to the New North region increased double digits for three consecutive years,

diversifying export markets.

This year, we will increase total export volume again,

and accelerate export structure innovation to leap to the world’s 4th largest exporter by 2030.

We will increase high value-added exports such as the three new industries, 5G, and secondary batteries,

and expand new markets in the New South and New North regions, including the finalization of the RCEP agreement.

We will quadruple export financing for small and medium enterprises,

and increase the export share of SMEs through K-brands linked to the Korean Wave.

We will also make every effort to create a better corporate investment environment.

We will launch large-scale investment projects totaling 100 trillion won,

and further strengthen investment incentives such as the “three-piece investment promotion tax set.”

While actively promoting the “National Balanced Development Project” worth 25 trillion won across 23 projects,

we will expand investment in “living SOC” to more than 10 trillion won, the largest ever,

revitalizing regional economies.

Furthermore, we will further activate the Korean Wave, including K-pop, dramas, K-beauty, K-content, and K-food,

and open the era of “20 million inbound tourists.”

Dear citizens,

“Fairness” is like the air surrounding our economy and society.

Only with “fairness” as the foundation can there be “innovation” and “inclusion,”

and our economic society can breathe.

Recently, results have gradually appeared in the fair economy.

Most circular shareholding links among large business groups have been resolved,

unfair trade practices in subcontracting, franchises, and distribution sectors have greatly improved,

and the scale of win-win payments has exceeded 100 trillion won, establishing a fair and healthy market economy.

Also, despite difficulties in revising laws,

through amendments and enactments of enforcement decrees,

the “Stewardship Code” has been established,

and a foundation to induce sound management of large corporations will soon be prepared.

We will also devote full efforts to legal amendments for fair economy, including amendments to the Commercial Act.

Recently, the “Corruption Investigation Office Act” passed the National Assembly.

It is an institutional device to ensure that no one enjoys privileges before the law,

and that the law is applied equally and fairly.

Once the “Investigation Authority Adjustment Bill” is passed,

completing the legal and institutional foundation for power agency reform,

society will become fairer,

and stronger social trust will be formed.

We will not stop legal, institutional, and administrative reforms

until any power agency is evaluated as an institution working with the people.

Furthermore, “fairness” must be newly established in education, recruitment, workplaces, society, and culture

to meet the expectations of the people.

We have keenly felt the high demand for “fairness” from the people,

and the government will surely respond.

We will boldly improve unfairness existing in all areas of citizens’ lives,

and root fairness deeply in our society.

The government’s will for stabilizing the real estate market, protecting actual demanders, and suppressing speculation is firm.

We will never lose the war against real estate speculation.

We will also steadily expand housing supply,

and make every effort to protect housing for ordinary citizens such as newlyweds and single-person households.

Dear respected citizens,

This is a time of endurance for peace on the Korean Peninsula.

More than ever, faith in peace and the united hearts of the people are urgently needed.

Peace on the Korean Peninsula is not a matter of choice,

but a path we must take overcoming any difficulties.

Since our government took office,

expectations and hopes for peace have risen higher than ever.

The dark clouds of war that hung over the Korean Peninsula until 2017 have lifted,

and peace has come closer.

However, there is great regret that no greater progress was made in inter-Korean cooperation over the past year.

As North Korea-US talks began in earnest,

both South and North Korea prioritized the North Korea-US talks.

They expected that if the North Korea-US talks succeeded,

the door to inter-Korean cooperation would open faster and wider.

The momentum of the North Korea-US talks must continue.

Displays of force and threats help no one.

Our government will do all it can to promote the North Korea-US talks.

However, amid the deadlock in North Korea-US talks,

and concerns about regression in inter-Korean relations,

while striving for the success of the North Korea-US talks,

it has become even more urgent to seek practical ways to further promote inter-Korean cooperation.

To uphold the three principles for peace on the Korean Peninsula?no war, mutual security guarantees, and joint prosperity?

international solutions are necessary, but

there are also things that can be done through cooperation between South and North Korea.

We propose that South and North Korea sit down and seriously discuss together.

South and North Korea are not only neighbors sharing a border,

but a “community of life” that must live together.

For the joint safety of 80 million Koreans,

we also propose starting cooperation in border areas.

We believe Chairman Kim Jong-un shares the same will.

The “2032 Olympics co-hosting by South and North Korea”

will showcase to the world that South and North Koreans are one people,

and will be a golden opportunity for joint advancement.

It is an agreement between the South and North Korean leaders,

and a promise to the international community, having already conveyed the intention to jointly bid to the IOC.

We hope to gather strength through continuous sports exchanges to ensure its realization.

We look forward to skilled North Korean athletes participating in the “1st East Asia Weightlifting Championships” and the “World Table Tennis Championships” held in our country this year,

and negotiations for joint entrance and unified teams at the “Tokyo Olympics” should continue.

If South and North Korea find practical ways to realize railway and road connection projects,

it can lead to international cooperation,

and greatly support the resumption of tourism between the two Koreas and the revitalization of tourism in North Korea.

The “demilitarized zone’s international peace zone”

was proposed to guarantee mutual safety between South and North Korea both institutionally and practically,

and to gain international support.

We have already jointly registered Ssireum (Korean wrestling)

as a “UNESCO Intangible Cultural Heritage of Humanity.”

The demilitarized zone holds tremendous value including ecology, history, inter-Korean reconciliation, and peace,

and joint registration as a “UNESCO World Heritage” is something we can start immediately.

We hope for North Korea’s positive response.

The path we seek through peace is ultimately a peace economy.

The peace economy aims to create an era where division no longer hinders peace and prosperity,

and where both South and North Korea prosper together with neighboring countries.

I am willing to meet repeatedly and engage in continuous dialogue.

Efforts to resume the Kaesong Industrial Complex and Mount Kumgang tourism will also continue.

Looking back on agreements not kept last year,

and reflecting on reasons for falling short of citizens’ expectations,

we will keep moving forward, whether by a full step or half step.

This year marks the meaningful 20th anniversary of the June 15 South-North Joint Declaration.

We hope South and North Korea will work together to hold joint events reaffirming the will for peaceful reunification,

and to create conditions for Chairman Kim Jong-un’s reciprocal visit as soon as possible.

Dear citizens,

Last year, the government strengthened cooperation with ASEAN for a “community of mutual prosperity”

through the “Korea-ASEAN Special Summit” and the “Korea-Mekong Summit.”

This year, the government will further solidify the Korea-US alliance,

and accelerate the New Southern Policy and New Northern Policy,

diversifying diplomacy.

We will develop the traditional alliance with the United States to a higher level,

and work together to complete the “Korean Peninsula peace process.”

We will strengthen exchanges and cooperation with China in various fields.

With President Xi Jinping and Premier Li Keqiang scheduled to visit Korea this year,

we will strive to elevate Korea-China relations to a new level.

Japan is our closest neighbor.

We will evolve the cooperative relationship between the two countries to be more future-oriented.

If Japan withdraws its export restrictions,

bilateral relations can develop more rapidly.

Russia is a key partner in the New Northern Policy.

This year marks the 30th anniversary of diplomatic relations between the two countries,

and we expect a new turning point in New Northern diplomacy.

This year, we will host the P4G Summit and the Korea-China-Japan Summit,

and serve as the chair country of MIKTA.

We will fulfill our responsibilities as a confident middle power in international cooperation for climate change response and sustainable development.

Dear respected citizens,

The Republic of Korea is a democratic republic.

Because it is a democratic republic that our people have regained and protected,

we feel a passionate pride in its name.

Our belief in the democratic republic is as fervent as the candles we held.

We specially commemorated the 100th anniversary of the March 1st Independence Movement and the establishment of the Provisional Government last year

because that spirit became the foundation of the democratic republic.

The democratic republic expands and strengthens through coexistence.

When all members of the community work together and prosper together,

people’s sovereignty becomes stronger, and true national unity can be achieved.

The world situation remains turbulent.

International competition is intensifying in the Fourth Industrial Revolution era.

Protectionism and technological hegemony may further spread.

Our society must become more integrated and cooperative internally

to overcome competition and continue developing.

Extremism must be rejected, and conservatives and progressives must understand each other

and join hands.

I will make more efforts myself.

Making “certain change” through “coexistence leap” is my top priority,

and I will communicate with the people more frequently.

The most beautiful change is probably the arduous process of metamorphosis from a caterpillar to a butterfly.

Over the past two and a half years, we have worked to create a new order.

Now, if we “certainly change” into a butterfly,

with two wings of labor and management, two wings of small and large enterprises,

two wings of conservatives and progressives, and two wings of South and North,

we will “coexist and leap.”

We now begin a new 100 years.

Based on “innovation,” “inclusion,” “fairness,” and “peace,”

we will move one step closer to a “country where all prosper together” and a “peaceful and prosperous Korean Peninsula.”

We will work harder to improve our lives.

Thank you.

This content was produced with the assistance of AI translation services.