[The Editors' Verdict] The Presidential Office's Ambiguous 'Warm Economy'

"The Presidential Office refers to economic schedules that the public can feel as 'Warm Economy' schedules, and I hope to introduce more concrete directions for the 'Warm Economy' schedules going forward."

On the 3rd, after the Chuseok holiday, a Presidential Office official said this to reporters at the Yongsan Presidential Office building in Seoul. The intention was to strengthen economic support that the public can tangibly feel in their daily lives.

The government is reportedly working on shifting the focus of the Emergency Economic and Livelihood Meeting, which had concentrated on new growth industries and exports, toward livelihood issues such as responding to high inflation and high oil prices. On the 16th, President Yoon Suk-yeol urged Prime Minister Han Duck-soo during their weekly meeting, "As concerns about rising prices grow again due to instability in the Middle East, all ministries should do their utmost to stabilize prices affecting people's livelihoods."

The price-related meeting was elevated from vice ministerial to ministerial level, and on the 17th, the 'Ministerial Meeting on Stabilizing Prices Affecting People's Livelihoods' was held. Announcements included supplying 2,200 tons of cabbage over two weeks and providing 1,000 tons of solar salt at a 50% discount. On the 18th, Minister of Trade, Industry and Energy Moon Sung-wook held a 'Petroleum Market Inspection Meeting for Stabilizing Prices Affecting People's Livelihoods' and stated, "We will expand self-service discount gas stations in the metropolitan area, where there are few, by more than 10% within this year."

Currently, the Presidential Office's Economic Secretary is exploring various ideas related to the 'Warm Economy' and is focused on finding specific themes. The Presidential Office's Civil Society Secretary is also conducting a public contest for innovative products that solve neighborhood inconveniences, in line with the aim of revitalizing livelihoods.

Why has the 'Warm Economy' suddenly emerged and is being strongly promoted? Is it because the government properly listened to public sentiment during Chuseok, or is it due to the shock of losing the by-election for the Gangseo District Office? Or is it groundwork being laid now to win the general election in April next year?

No one would object to doing a better job at revitalizing livelihoods and resolving public grievances. However, one wonders if it is necessary to label routine government work as 'Warm Economy' and have the Presidential Office take the lead.

President Yoon Suk-yeol has emphasized liberal democracy and market economy in his inaugural address and various speeches. Liberal democracy and market economy are core conservative values. Free competition and market functions maximize economic efficiency. For those left behind in market competition, the social safety net helps them to restart economic activities or, if that is not possible, provides minimum welfare. Isn't this true conservatism? Populism, which uses undesirable policies for the nation's future just to cater to popular opinion, is one of conservatism's greatest enemies.

On the 17th, President Yoon held a dinner at the Blue House State Guest House with members of the National Unity Committee, People Power Party's 'Kim Ki-hyun 2nd term' officials, key cabinet members, and senior secretaries of the Presidential Office. One attendee said, "President Yoon remarked on-site that many ordinary citizens and young people are really struggling with household debt issues."

Regarding household debt problems among ordinary citizens and youth, refined policies have already been implemented through many measures since the government took office. There is concern that the government might propose something close to populism by claiming it will do more than current policies.

The 'Warm Economy' gives an impression of something good, like the 'Economic Democratization' pledge of the Saenuri Party in 2012, but it is vague and abstract. The Saenuri Party's 'Economic Democratization' pledge greatly contributed to Park Geun-hye's election but disappeared without any achievements after the government was launched. Will the 'Warm Economy' follow the same path? Will it help in the April general election?

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