Yoon: "National debt 1,000 trillion won, must tighten... Will spend on common people and future investments when needed"

Yoon "Thankful and Sorry to Those Working Hard in Difficult Economic Times"

[Image source=Yonhap News]

[Asia Economy Reporter Ki-min Lee] President Yoon Suk-yeol stated on the 29th, "When it comes to supporting the common people and those in need, as well as investing in our future, we will definitely spend the money."

President Yoon made these remarks during a brief statement to reporters on his way to the Yongsan Presidential Office building in the morning.

He first emphasized that "the national debt has increased significantly in recent years, nearing 1,000 trillion won, and since we have to fight inflation and war, the government is in a position where it must tighten its belt, which the public is well aware of," but stressed that the budget will not be spared for the livelihood of the people and the country's future.

Referring to his visits last week to Amsa General Market in Gangdong-gu, Seoul, and Seomun Market in Daegu, President Yoon expressed, "Despite the difficult economic conditions, I met with those diligently engaged in their livelihoods and felt both gratitude and apology."

He continued, "Since inflation is the biggest hardship for the people, at yesterday’s high-level ruling party and government meeting, we decided to do our best to maintain prices of essential Chuseok holiday goods at last year’s levels at least until Chuseok," adding, "We have prepared to ensure that disaster relief funds due to recent flood damage will be reliably distributed to victims and small business owners before Chuseok."

President Yoon concluded, "Our people are doing their best despite difficulties, and as president, I will also work hard this week."

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