Democratic Party: "President Yoon's Export Measures Are Belated... Need Reliable Measures"

[Image source=Yonhap News]

[Asia Economy Reporter Naju-seok] On the 25th, the Democratic Party of Korea demanded, regarding President Yoon Seok-yeol's export measures, "The measures presented are just reheated, repeated, and belated responses," and urged, "Please present countermeasures that the public can trust."

Kim Hyun-jung, spokesperson for the Democratic Party, stated in a commentary that "With the implementation of the United States' Inflation Reduction Act (IRA) approaching, concerns are growing that accelerated investment in the U.S. will hollow out the domestic advanced industry base," and added, "Moreover, France and Germany have expressed their intention to respond by creating their own support measures called the ‘European Preference Purchase Act’ if negotiations with the U.S. on the IRA yield no results."

Spokesperson Kim expressed concern, saying, "If the EU further raises trade barriers on top of this, it will have an unbearable impact on future growth engine industries such as electric vehicle batteries."

She continued, "In this crisis, where is President Yoon Seok-yeol and what is he doing? Although he shouts 'Exports are our lifeline' and 'All ministries are industrial ministries,' the measures presented are just reheated, repeated, and belated responses," and lamented, "Rather, due to the government's complacent response such as biased diplomacy, the export crisis is worsening. The growth engine of the Republic of Korea is fading, but the president's sense of urgency is not visible, which is frustrating."

Spokesperson Kim said, "The government's incompetence, which missed the golden time to respond to the IRA due to failure to recognize the seriousness of the IRA and omission of reports, must not be repeated," and added, "President Yoon should stop reciting empty slogans like ‘Exports are our lifeline’ and, as the highest authority in state affairs, present countermeasures that the public can trust."

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