[Lee·Yoon Economic Nomics Analysis] Kim So-Young "Will Achieve Both Corporate Growth and Comprehensive Welfare"

Yoon Seok-yeol's Economic Advisor, Seoul National University Professor Kim So-young
"Laying the Foundation for Growth While Pursuing Welfare Policies"

Professor So-Young Kim, Department of Economics, Seoul National University

[Asia Economy Reporter Park Jun-yi] Professor Kim So-young of the Department of Economics at Seoul National University, who serves as the Head of the Economic Policy Division of the People Power Party's Election Countermeasures Headquarters, described Yoon Seok-yeol presidential candidate's economic policy core as a "two-track approach of growth and welfare." It is a plan to work balancedly on both growth and welfare, breaking away from the illusion that growth leads to distribution and distribution leads to growth.

In a phone interview on the 22nd, Professor Kim pointed out, "The Moon Jae-in administration's principle was 'if distribution is done well, growth will follow,' but it did not achieve success, and the previous right-wing government focused on growth as its motto but hardly paid attention to distribution." She added, "The biggest difference is that the Yoon Seok-yeol administration plans to simultaneously establish a foundation for growth and target welfare policies." For this reason, Professor Kim explained that it is far from the conservative regime's growth discourse of the past, centered on the 'trickle-down effect.' She emphasized, "It is about realizing dense and substantial welfare separately from growth, moving away from the idea that growth will automatically lead to distribution."

Professor Kim argued that the government's role in promoting Yoon candidate's economic policy is to create a foundation where the private sector can invest. She continued, "The plan is to build an innovative environment where companies can grow through talent development, regulatory innovation, and the establishment of global innovation zones, while simultaneously making efforts to raise the level of social service jobs in terms of welfare."

Regarding policies such as the 'abolition of capital gains tax on stocks' and 'abolition of comprehensive real estate tax,' which have been criticized by the progressive camp, Professor Kim rebutted, "These are not policies that only help the wealthy." She explained, "If the capital gains tax is introduced from next year, there is a risk of a stock market crash. Both wealthy and less fortunate investors are likely to face difficulties, so this is intended to prevent that." She also explained, "As for the comprehensive real estate tax, since there are already many regulations in the real estate market, the goal is to ease these and allow citizens to live comfortably."

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