Lee Jae-myung: "Sustained 3 Highs of Prices, Interest Rates, and Exchange Rates... Need for Cooperation Beyond Political Factions," Proposes Economic Countermeasure Committee

"Corporate Tax Cuts Should Not Deepen Polarization"
"Fuel Tax Cuts Needed to Support Livelihoods and Control Prices"

[Image source=Yonhap News]

[Asia Economy Reporter Koo Chae-eun] On the 17th, Lee Jae-myung, a member of the Democratic Party of Korea, stated, "The phenomenon of the three highs?rising prices, interest rates, and exchange rates?is continuing," and added, "Urgent, fundamental, and nationwide responses are necessary for such a complex crisis."

On the same day, Lee posted on social media (SNS), "If tax reductions are to be made, they should support people's livelihoods and control prices through fuel tax cuts rather than deepening polarization by reducing corporate taxes for conglomerates." He said, "At times like this, it is necessary to mobilize all national resources and pursue nationwide cooperation beyond political factions," and proposed, "A nationwide economic countermeasure committee is also needed to prepare for a more severe economic crisis following the unprecedented pandemic."

He also emphasized the need for bipartisan cooperation. Lee questioned, "Where would the ruling and opposition parties be in a livelihood crisis?" and said, "The executive branch must closely coordinate economic policies among ministries, and the legislative branch urgently needs regulatory reforms and amendments to laws to support this. Social consensus for sharing the burden is also necessary."

He stressed, "It is time to boldly set aside conflicting elements such as camps, lines, and factions, and unite and cooperate solely from the perspective of the people and national interest," adding, "I hope that, together with resilient citizens, we can turn the approaching massive crisis into an opportunity to transform the economic structure of the Republic of Korea."

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