Korean Prime Minister: "Jeonse Fraud is a Private Contract... Government Financial Intervention Not Justified"

China Diplomacy, Basic Perception Has Not Changed... China’s International Responsibility Has Grown Heavier

Prime Minister Han Duck-soo stated on the 2nd regarding the public purchase of guarantee bonds for victims of jeonse fraud that “it is not appropriate to directly inject funds of a financial nature.” At a press conference last month, Prime Minister Han also expressed a negative stance, saying that the government buying jeonse guarantee bonds “requires careful consideration.”

At a press briefing held at the Government Complex Seoul on the same day, Prime Minister Han said, “We fully understand the difficulties faced by those suffering from jeonse fraud.”

He added, “We will organize related laws so that people can directly purchase houses that come up for auction, and if funding is needed for that, loans can be obtained through loan resources.” He mentioned that benefits are provided in prioritizing between local taxes and guarantee bonds, and that measures through LH (Korea Land & Housing Corporation) have also been prepared.

Prime Minister Han Duck-soo is attending the Government Policy Coordination Meeting held at the Government Seoul Office in Jongno-gu, Seoul on the 20th. Photo by Dongju Yoon doso7@

When asked if he was willing to reconcile differences with the Democratic Party of Korea, which is advocating for the injection of public funds, he clearly drew a line. Prime Minister Han said, “As is widely known externally, we have thoroughly discussed and decided on measures through party-government consultations.”

Regarding the self-immolation incident involving a construction union official, he said, “It is truly regrettable and heartbreaking,” but added, “Rule of law in the labor field and improvement of the dual structure are fundamental to maintaining good long-term labor-management relations.” Prime Minister Han stated, “In the long term, our labor and management need to make more efforts to build labor-management relations, and the focus should be on improving the dual structure where labor and management clash during that process.”

Regarding the passage of the Nursing Act, led by the opposition party, at the National Assembly plenary session on the 27th of last month, he said, “It is regrettable that it passed without sufficient review between the ruling and opposition parties.” When asked whether he would recommend President Yoon Seok-yeol to exercise the right to request reconsideration (veto) of the bill, he said, “I will decide after more careful public opinion gathering.”

China’s Diplomacy, Basic Perception Has Not Changed... China’s International Responsibility Has Become Heavier

In response to criticism that President Yoon Seok-yeol’s diplomatic policy, structured as South Korea-US-Japan versus North Korea-China-Russia, is escalating tensions on the Korean Peninsula, he emphasized, “The basic perception of China policy has not changed.” He said, “Based on mutual respect and mutual benefit, we believe that we should continue to develop relations with China as a major economic partner.”

However, he added, “Since China is the world’s second-largest economy and a permanent member of the UN Security Council, its international responsibilities have become much heavier than in the past.” He elaborated, “I think China is a country that needs to consider more the international rules and values shared worldwide.”

Prime Minister Han explained, “Regarding Russia, we are saying that the war against Ukraine is difficult to accept in light of universal international values, and that many people are sacrificed due to unilateral violations of international rules. As the world’s 10th largest economy, Russia should work on international solidarity to uphold universal values.”

Yoon’s Visit to the US Achievements Are 'Security'... “Will Take Preemptive Measures to Prevent Economic Crisis”

Prime Minister Han Duck-soo is attending the Government Policy Review Meeting held at the Government Seoul Office in Jongno-gu, Seoul on the 20th, delivering opening remarks. Photo by Dongju Yoon doso7@

Regarding the main achievements of President Yoon’s visit to the US, he cited ‘security.’ Prime Minister Han said, “Through the Washington Declaration, a clear consultation group on nuclear issues was established to plan and simulate how to address North Korea’s nuclear problem as an alliance.” He added, “Without deterrence between the South Korea-US alliance, we would have to rely solely on North Korea’s sincerity, leading to a fake peace regime, which we cannot accept. Now, North Korea must take action.”

Prime Minister Han evaluated, “Between industries, the advanced source technologies and production capabilities of the US and South Korea have combined to strengthen economic security by reinforcing the international division of labor among countries that share value.”

Finally, Prime Minister Han emphasized that he will focus on “preemptive measures to prevent an economic crisis.” He said, “We know how to stimulate the economy, but the side effects of policies are very large, so the government and the people are concentrating on overcoming this carefully together,” adding, “Although it is difficult, we will also make efforts to clearly lay the foundation for the three major reforms (labor, education, and pensions).”

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