President Moon: "Long-lasting financial boom, creating private funds for New Deal projects"

Private Talks with Kim Jong-in, Future United Party Emergency Committee Chairman, and Others... "Utilizing Financial Assets and Private Capital for Private Funds"

[Asia Economy Reporter Ryu Jeong-min] On the 16th, President Moon Jae-in said in a private meeting held at the office of National Assembly Speaker Park Byeong-seok, regarding the funding for the 'Korean New Deal' project, "I fully agree that bold fiscal investment is necessary," adding, "Government finances alone are not sufficient."

In particular, President Moon stated, "Since the financial sector has enjoyed a long period of prosperity, we plan to create a private fund utilizing financial assets and private capital to promote the Korean New Deal project." On the same day, President Moon held a private meeting with Speaker Park and the leaders of both ruling and opposition parties.

Blue House spokesperson Kang Min-seok said, "After the meeting turned private, there was a conversation between President Moon and Kim Jong-in, the Emergency Committee Chairman of the United Future Party. Chairman Kim remarked that the 160 trillion won funding for the Korean New Deal might be insufficient," adding that President Moon proposed the private fund plan in response.

President Moon Jae-in is attending the opening ceremony of the 21st National Assembly held at the National Assembly plenary session hall on the 16th, delivering a congratulatory speech on the opening./Photo by Yoon Dong-joo doso7@

Spokesperson Kang added, "Chairman Kim Jong-in also expressed the view that polarization should not deepen during the process of overcoming the COVID-19 crisis, and President Moon explained, 'The Korean New Deal aims to prevent the deepening of polarization caused by the crisis and to narrow it further.'"

President Moon emphasized, "We will make great efforts to realize the plan as scheduled," and stressed, "We will break the formula where inequality worsens during the process of overcoming the crisis."

Meanwhile, Sim Sang-jung, leader of the Justice Party, mentioned the importance of resolving inequality and requested the government to present clear targets to overcome the climate crisis.

President Moon said, "The Korean New Deal is not simply about increasing the number of jobs or economic recovery, but I want to emphasize that it is a new social contract," adding, "We need to make further efforts to achieve it through a grand compromise among labor, management, and the government. I ask the National Assembly to also join forces."

Prime Minister Chung Sye-kyun responded regarding climate issues, "The government will not unilaterally set targets but will create them together."

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