Yoon: "Policy is about ensuring all citizens can equally enjoy the fruits of growth"

National Economic Advisory Council Luncheon Meeting
Emphasis on Livelihood Policies Tangible to the Public
Yoon "We Must Support Citizens Left Behind in Competition to Run Again"

President Yoon Suk-yeol emphasized the importance of livelihood policies that the public can feel, stating on the 11th, "All policies in the economy, society, diplomacy, and security are ultimately aimed at ensuring that the fruits of growth are evenly enjoyed by all citizens from the perspective of the national economy."

President Yoon made these remarks during his opening speech at a luncheon meeting with the members of the National Economy Advisory Council at the Yongsan Presidential Office. Kim Soo-kyung, the presidential spokesperson, conveyed through a written briefing that the president also urged, "I hope the National Economy Advisory Council will provide the government with frank advice."

The National Economy Advisory Council is a constitutional body established to discuss important economic and related policy formulation and to advise the president. President Yoon serves as the chair, with Lee In-ho, Professor Emeritus at Seoul National University, as the vice-chair. The council operates subcommittees in various economic fields, including macro-finance, livelihood economy, innovation economy, future economy, and economic security.

This meeting marks President Yoon's first encounter with the National Economy Advisory Council in over a year since the 12th Emergency Economic Livelihood Meeting and the 1st plenary session of the National Economy Advisory Council held in December 2022. The presidential office stated that this luncheon was arranged to share the administration’s philosophy with the newly formed second-term council members and to exchange views on the future direction of economic policy.

[Image source=Yonhap News]

President Yoon also stressed, "A free market economy is ultimately a system where all citizens prosper," adding, "The government must ensure fair and effective competition while also caring for and supporting those who fall behind in competition so that they can compete again in the market."

He particularly quoted former U.S. President John F. Kennedy’s statement that "freedom is indivisible, and if even one person is in a state of slavery, then no one is truly free," and remarked, "Our constitution’s welfare state concept, which ensures education, culture, and basic economic living standards, is an extension of free-market principles that allow people to genuinely enjoy freedom."

Before the luncheon, President Yoon presented appointment letters to four newly appointed members: Park Jung-soo, Professor of Economics at Sogang University; Lee Young-wook, Research Fellow at the Korea Development Institute; Lee Sang-rim, Research Fellow at the Korea Institute for Health and Social Affairs; and Lee Ho-jun, Executive Director at CJ Corporation.

Attending the meeting were Lee In-ho, vice-chair of the National Economy Advisory Council, and 26 council members. From the government side, Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok participated, along with Sung Tae-yoon, Director of Policy at the Presidential Office, and Park Chun-seop, Senior Secretary for Economic Affairs.

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