President Moon: "I will definitely break the formula that 'crisis breeds inequality'"

President Moon Jae-in is speaking at the Cabinet meeting held at the Blue House on the morning of the 9th. [Image source=Yonhap News]

[Asia Economy Reporter Son Sun-hee] President Moon Jae-in warned against the worsening income gap caused by the COVID-19 pandemic on the 9th, stating, "I will definitely break the formula that 'crisis breeds inequality,'" and added, "If we cannot coexist, it cannot be called a true overcoming of the crisis."

At 10 a.m. that day, President Moon chaired a video Cabinet meeting at the Blue House and said in his opening remarks, "Rather, we will take this crisis as an opportunity to reduce inequality," and added, "This is the ultimate goal of the 'Korean New Deal.'

President Moon expressed concern, saying, "The crisis is especially harsh for the poor and vulnerable," and "Inequality is worsening again amid the economic crisis caused by the unexpected COVID-19 situation." He continued, "Employment shocks are concentrated among vulnerable groups such as temporary workers, daily workers, special employment workers, and small business owners," adding, "COVID-19 is a severe situation that further widens the gap."

To address this, President Moon urged, "The social safety net must start with building an employment safety net," and requested, "Please use this crisis as an opportunity to lay the foundation for an era of universal employment insurance by quickly resolving blind spots in employment insurance benefits, which is the primary employment safety net, and gradually expanding the scope of employment insurance coverage." He also said, "The number of households facing crisis due to job loss and financial hardship is increasing," and emphasized, "We must thoroughly inspect the welfare delivery system with local governments to ensure there are no gaps in support for households struggling to make a living."

President Moon stated, "The government is directly engaged in creating emergency jobs to provide work opportunities for 550,000 vulnerable people," and expressed hope, "Ultimately, this will be a way to reduce welfare expenditure." He especially urged Cabinet members, "Please accelerate the creation of regionally coexistent jobs along with customized job policies for the difficult 40s age group."

Furthermore, he added, "To overcome this difficult crisis, social grand compromise is essential," and requested, "I ask that efforts for social dialogue bear fruit quickly and become a force in overcoming the crisis."

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