Lee Hae-chan "Will propose 'domestic demand stimulation' at the fiscal strategy meeting... Formation of the National Assembly must follow regulations"

Lee Hae-chan, leader of the Democratic Party of Korea, and Kim Tae-nyeon, floor leader, are attending the Supreme Council meeting held at the National Assembly on the 25th. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Wondara] Lee Hae-chan, leader of the Democratic Party of Korea, announced on the 25th that he will propose measures to stimulate domestic demand at the National Fiscal Strategy Meeting chaired by President Moon Jae-in. The National Fiscal Strategy Meeting is the highest-level decision-making meeting in the fiscal sector held once a year.

At the Supreme Council meeting held at the National Assembly that morning, Lee said, "Today, the floor leader, the Speaker of the National Assembly, and I are scheduled to attend the National Fiscal Strategy Meeting," adding, "If we do not actively stimulate the domestic economy, there will be limits to growth, so I believe stimulating domestic demand is important. From that perspective, I will talk to President Moon and propose that we think about our economy in a multidimensional and dynamic way."

He continued, "Stimulating domestic demand is more important than forced exports. The national debt ratio can be maintained only if the total Gross Domestic Product (GDP) does not decrease," and explained, "We need to make a comprehensive judgment on the national debt ratio and establish a national fiscal strategy accordingly."

Regarding the organization of the National Assembly, which is under negotiation between the ruling and opposition parties, he emphasized, "The 21st National Assembly will begin this Saturday," and said, "I understand that negotiations between the ruling and opposition parties are ongoing, but there are things to be done through negotiation and things to be done according to the National Assembly regulations. It is necessary to organize these."

He added, "Until now, even if there were National Assembly regulations, everything was tried to be done through negotiation, but since the National Assembly regulations are agreed upon, the 21st National Assembly should follow the regulations where necessary and negotiate where necessary," and urged, "I once again ask the floor leaders to comprehensively consider negotiations and National Assembly regulations."

Regarding the novel coronavirus infection (COVID-19), he said, "High school sophomores, middle school third graders, first and second graders in elementary school, and kindergarteners will start attending school this week, and all elementary, middle, and high school students are scheduled to start attending school by the 8th of next month," adding, "I think this week will be a turning point for the COVID-19 wave and the return to a new normal life. I hope everyone will approach this with a spirit of mutual concession."

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