Lee Jae-myung: "Today marks 25 years since the IMF bailout application... In a crisis on the brink, the government's response is complacent"

[Image source=Yonhap News]

[Asia Economy Reporters Naju-seok and Park Joon-yi] Lee Jae-myung, leader of the Democratic Party of Korea, criticized the government's response to the economic crisis on the 21st, referring to the 25th anniversary of the International Monetary Fund (IMF) bailout. Lee pointed out, "It is regrettable that national power, which should be used to overcome the crisis, is being wasted on destroying the opposition party."

At the Democratic Party's Supreme Council meeting held at the National Assembly that day, Lee opened his remarks by saying, "Exactly 25 years ago today, South Korea applied for an IMF bailout," adding, "It was the day our economy suddenly fell off a cliff, facing the day of national default."

He continued, "Among the top 30 conglomerates, 8 collapsed, along with 17,000 companies; families were shattered, and the streets were flooded with unemployed people," and said, "Recently, signs of crisis surrounding the people's livelihood economy are serious."

Lee cited situations such as trade deficits and marginal companies unable to repay loans with operating profits, stating, "The warning signals of crisis coming from all directions are growing louder," and criticized, "The people's livelihood and economy are at a critical point, but the government's awareness and response seem to be complacent."

He said, "Despite any oppression from the prosecution dictatorship regime, the Democratic Party will steadfastly take care of the people's livelihood and economy and protect peace and security."

Regarding the budget bill and its processing, Lee said, "National finances must be a pillar and a breakwater for the people's livelihood and economy," and added, "The Democratic Party will make every effort to block cruel privilege budgets such as ultra-rich tax cuts and reductions in the budget for ordinary people, and secure warm livelihood budgets." He said, "With the authority given by the people, we will protect the people's livelihood from crisis and privilege and revive the economy."

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