[President Yoon's Inauguration] "Solving Polarization Through Rapid Growth"

Emphasizing Overcoming the Crisis of Democracy through Rationalism and Intellectualism
"Must Adopt the Stance of a Global Leading Nation"

[Asia Economy Reporter Oh Ju-yeon] With President Yoon Suk-yeol officially inaugurated as the 20th president on the 10th, and presenting ‘freedom, human rights, fairness, and solidarity’ as core values at the inauguration ceremony, it is expected that values such as freedom and fairness will be prioritized across the entire government administration. This is because freedom and fairness are seen as key values to address social polarization and peace on the Korean Peninsula. Since his election, President Yoon has consistently presented the national philosophy as ‘a Korea that leaps forward again, a nation where citizens prosper together,’ defining the current situation in each sector as a ‘crisis.’ He believes that ‘liberal democracy’ and the ‘market economy system’ can solve these challenges. His emphasis in the inauguration speech on opening a new chapter of Korea as "a country where the people are the true owners, fulfilling responsibilities and earning respect in the international community" aligns with this perspective.

In particular, regarding the economy, which is expected to show the greatest difference from the previous administration under President Moon Jae-in, he stressed the inseparable relationship with domestic and international circumstances.

[Image source=Yonhap News]

[Image source=Yonhap News]

President Yoon stated, "The whole world is currently facing a pandemic crisis," and pointed out that "there are challenges that are difficult for any single country to solve independently." He listed domestic and international ultra-low growth, large-scale unemployment, polarization, and social conflicts one by one, proposing ‘rapid growth’ as the solution.

Having emphasized ‘private sector-led growth’ since his candidacy, President Yoon said on this day, "Without achieving a leap and rapid growth, it will be difficult to resolve (polarization and social conflicts)." Unlike the Moon administration, which pursued ‘government-led growth,’ there is growing expectation that various regulations imposed on private companies will be eased to invigorate the economy. With global issues such as quantitative tightening, interest rate hikes, inflationary pressures, China’s lockdowns, and the Russia-Ukraine war overlapping and impacting the domestic economy, the importance of ‘solidarity’ advocated by President Yoon is expected to become more urgent than ever.

In particular, President Yoon emphasized international solidarity in ‘science and technology.’ He explained that rapid growth is only possible through science, technology, and innovation, and can be achieved through cooperation with countries advanced in these fields.

He also applied these core values to the political and social sectors, discussing the ‘overcoming of the crisis of democracy.’ President Yoon pointed out that politics, which should resolve polarization and social conflicts, is failing to function properly due to a crisis in democracy, advocating ‘rationalism’ and ‘intellectualism.’ He said, "Anti-intellectualism, which selectively accepts only facts one wants to see or suppresses opposing opinions by majority power, undermines faith in democracy," and stressed that "the universal value of ‘freedom’ must be properly recognized." In diplomacy, including North Korea policy, President Yoon emphasized freedom, human rights, and international solidarity, stating, "Based on the values of freedom, human rights, fairness, and solidarity, I will surely build a country where the people are the true owners and that fulfills its responsibilities and earns respect in the international community, together with the great people."

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