Ahn Cheol-soo: "Economy in shambles and nation drowning in debt due to Moon's mismanagement"

'Giant Opposition Party' Democratic Party Also Criticizes
"They Are Intent on Breaking the New Government's Ankles"

Ahn Cheol-soo, Chairman of the Presidential Transition Committee, is giving an opening remark at the 5th plenary meeting held at the Transition Committee in Samcheong-dong, Jongno-gu, Seoul on the morning of the 11th. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Jeong Dong-hoon] Ahn Cheol-soo, chairman of the Presidential Transition Committee, criticized the Moon Jae-in administration's governance and revealed the difficulties in the transition process.

On the morning of the 11th, during the full meeting of the transition committee held at the committee office in Tongui-dong, Jongno-gu, Seoul, Chairman Ahn stated in his opening remarks, "The economy is in shambles, the country is buried in debt, and the people are struggling," and added, "We must inform the public that this is the report card the new government inherited from the current administration."

Chairman Ahn pointed out, "The Moon Jae-in administration's average annual economic growth rate was 1 percentage point lower than that of the Park Geun-hye administration, and the per capita gross national income growth rate was only 1 percentage point annually, which is a quarter of the previous administration's level," adding, "National debt increased by an average of 4.26 trillion won annually under the previous government, but under the Moon administration, it increased by more than double each year to 9.59 trillion won, pushing the national debt-to-GDP ratio over 50%."

He continued, "While the national income growth rate was cut to a quarter, the country's debt more than doubled every year," and said, "Economic vitality has declined, debt has increased, and yet the number of public officials has risen by 130,000. The economy is in shambles, the country is buried in debt, and the people are struggling?this is the report card the new government inherited from the current administration, and we must inform the public of this."

Chairman Ahn stated, "We must recognize the problems of the previous government's policies and the limitations of the policy tools available to us, and proceed with the new government's policies that are feasible with speed. This is what we can and must do."

In particular, Chairman Ahn emphasized, "We must clearly define the national goals. Governance is not about creating something out of nothing," and said, "We must set achievable targets clearly, establish priorities firmly, and focus on them."

Chairman Ahn added, "There is a saying that a friend to all is a friend to none. If everything is important, then nothing is important," and said, "To use an analogy, if we are given an old house, we do not have a toad to build a new house for us. We must break through with our own strength."

Specifically, Chairman Ahn said, "Even if policies are changed, it takes time before effects appear. The real estate price surge and tax bomb are clearly the current government's fault, but it is difficult for the new government to immediately correct them upon taking office," adding, "It is also difficult to drastically lower real estate taxes, and housing supply cannot immediately increase after the new government takes office. However, if real estate taxes do not drop and supply does not increase soon after the new government starts, the public will blame the new government."

Chairman Ahn also continued his criticism of the Democratic Party, which will become the main opposition party. He said, "To make matters worse, looking at the majority party in the National Assembly, they are not just obstructing but are determined to break the new government's legs so it cannot even start," and added, "The upcoming two years or more of a divided National Assembly environment will greatly restrict the new government's policy tools."

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