Lee Nak-yeon: "Profit-Sharing System Is a Solution of Mutual Help... Opposition Should Stop Political Strife"

Lee Nak-yeon, leader of the Democratic Party of Korea, is attending the Supreme Council meeting held at the National Assembly on the 15th and delivering an opening remark. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Jeon Jinyoung] Lee Nak-yeon, leader of the Democratic Party of Korea, on the 15th urged the opposition party to stop their attacks, calling the profit-sharing system proposed as a COVID-19 economic recovery measure a ‘solution based on mutual aid.’

At the Supreme Council meeting held at the National Assembly that morning, Lee said, “Polarization has deepened and spread widely due to COVID-19. The ‘COVID profit-sharing system’ is an attempt to find a solution based on mutual aid in such a reality.”

He emphasized, “Just as we succeeded in quarantine through the solidarity and cooperation of the people, inequality can also be overcome through joint efforts,” adding, “To win both the war against COVID-19 and the war against inequality, the wisdom and strength of everyone are needed.”

Addressing the opposition party, which has repeatedly criticized the profit-sharing system as socialist, he urged, “Instead of politicizing it, please gather wisdom to protect the community.” Lee said, “The Lee Myung-bak administration promoted a surplus profit-sharing system, and the Park Geun-hye administration implemented a corporate income return tax system. Capitalist advanced countries such as the United States’ Chrysler, the United Kingdom’s Rolls-Royce, and Japan’s Toyota have also achieved effective results through profit-sharing systems.”

He continued, “I do not think the Lee Myung-bak and Park Geun-hye administrations were socialist governments. Likewise, the United States, the United Kingdom, and Japan cannot be considered socialist countries,” and added, “In fact, lawmakers from both ruling and opposition parties, including members of the People Power Party, have submitted bills related to the profit-sharing system to the National Assembly. I hope the relevant standing committees will promptly review these bills.”

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