President Moon's 'End Frame' Double-Edged Sword... March School Opening, China Risk Variable

"COVID-19 Will End Soon" Statement... Calms Fear but Domestic and International Risks Remain

[Asia Economy Reporter Ryu Jeong-min] "The novel coronavirus infection (COVID-19) will end soon." President Moon Jae-in's remark on the 'end' of COVID-19 is a strategic move to restore the weakened economic sentiment to normal. It is predictable that the COVID-19 risk will be resolved after a certain point in time.

The noteworthy point is that the president himself mentioned the keyword 'end.' Blue House spokesperson Kang Min-seok explained the background of the 'end' remark by saying, "A psychological turnaround is necessary." President Moon pointed out, "The damage spreading in China is significantly transferring to our economy, and domestically, psychological fear is growing, affecting exports and domestic demand."

Before President Moon's remarks, the Blue House showed confidence in managing COVID-19 through various channels, considering the trends of new domestic confirmed cases, treatment results, and the quarantine and medical systems. President Moon's statement about the end not only psychologically stabilizes excessive fear but also could become a political risk depending on how the situation unfolds.

President Moon Jae-in held a meeting with business leaders on the 13th to discuss measures for responding to COVID-19.
[Photo by Cheong Wa Dae]

There are variables that the Moon Jae-in administration finds difficult to control. The COVID-19 damage situation in China is far from reassuring or optimistic. On the day President Moon made the 'end' remark, confirmed cases and deaths in China surged dramatically. China explained this was due to a change in statistical criteria, but the controversy over 'downplaying the damage' has intensified. Doubts about whether China's announcements can be trusted as they are are increasing.

According to the announcement from Hubei Province, China, on the 14th, there were 116 additional deaths and 4,823 new confirmed cases of COVID-19. Moreover, on the 13th, it was revealed that an 80-year-old Japanese woman infected with COVID-19 had no history of visiting China, raising alarms in neighboring countries as well.

This is amplifying concerns surrounding COVID-19. In two weeks, nationwide elementary, middle, and high schools are scheduled to start, along with university semesters. Parents' anxiety is inevitably increasing. The tension at universities is also rising, given that a large number of Chinese students are expected to return.

While the government's efforts to curb the spread of fear have the effect of restoring economic sentiment, there are criticisms that the word 'end' was used too early. Spokesperson Kang said, "It does not mean that we will neglect quarantine measures," adding, "The government remains vigilant and will do its best until the situation is completely over."

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