Lee Jae-myung Sends Letter Urging Biden to Amend IRA... "Will It Be of Great Help? That's All We Can Do"

Lee Jae-myung "Economy is Psychology. Government Must Set Direction, Encourage, and Remove Threats"

Lee Jae-myung, leader of the Democratic Party of Korea, is attending the Supreme Council meeting held at the National Assembly on the 17th and delivering opening remarks. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Naju-seok] Lee Jae-myung, leader of the Democratic Party of Korea, explained on the 17th regarding his letter urging key U.S. figures to amend the Inflation Reduction Act (IRA), saying, "How much help will this really be? But since this is the only thing we can do, we are doing at least this."

At the Democratic Party's Supreme Council meeting that day, Lee said, "Last week, I sent letters requesting amendments to the IRA Inflation Reduction Act to U.S. President Joe Biden and other key figures in the U.S. political sphere." He added, "I believe that if these small efforts and determination come together, results can be achieved. As the opposition party, we will do our best to do what we can."

Additionally, Lee stated, "The economy is psychology. When the government sets direction, encourages market participants, removes threats, and shows the will to do so, the market revives. However, if the attitude is 'the government has nothing to do,' 'the market will handle it on its own,' or 'instead of taking medicine, we should wait until the pus bursts,' greater pain and greater risks will come." He emphasized, "Concrete and realistic efforts to remove market threats and difficult situations are absolutely necessary."

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