President Yoon orders "Thorough legal action" on the Timef incident

Yoon "Financial authorities continue monitoring the situation"
"To ease the people, power must be given to local governments"
"Cabinet members, take good vacations to boost domestic demand"

President Yoon Suk-yeol is presiding over a Cabinet meeting at the Presidential Office building in Yongsan, Seoul, on the 30th. [Image source=Yonhap News]

President Yoon Suk-yeol instructed the relevant authorities to "take thorough action according to the law" regarding the large-scale unsettled payment incident involving TMON and WEMAKEPRICE (TMEP).

On the morning of the 30th, during the closing remarks of the Cabinet meeting held at the Yongsan Presidential Office, President Yoon said, "Financial authorities need to continuously monitor the situation," according to a briefing by Presidential Office spokesperson Jung Hye-jeon.

President Yoon emphasized, "The government's first mission in the market is to strongly separate and isolate unfair practices in the market," adding, "To ensure the market functions well, each ministry must closely monitor activities that disrupt market order."

He also stressed cooperation with local governments.

President Yoon stated, "To ensure that citizens live comfortably and well, authority must be given to local governments, which are most closely connected to people's livelihoods," and added, "The era of local governance is one of the most important visions of national administration."

He instructed the creation of a management and supervision system that grants authority to metropolitan and basic local governments while holding them accountable, and to identify cooperative tasks with local governments. President Yoon urged that central ministries and local governments work especially closely on welfare and low birthrate issues.

President Yoon emphasized communication with the public by ministers, saying, "Policies unknown to the people are as good as nonexistent." This means ministers should frequently explain policies through the media or social networking services (SNS).

Furthermore, President Yoon instructed inter-ministerial cooperation to establish robust industrial ecosystems in each sector.

He said, "Athletes have been delivering victory news day after day at the Olympics, and 'sports' should also create an industrial ecosystem that connects athletes to coaches, managers, and ultimately to national sports," adding, "In sectors such as construction, defense, and nuclear power, the government should guide the creation of industrial ecosystems under the market economy framework to achieve better outcomes."

President Yoon encouraged, "Taking vacations well is also part of the duties of Cabinet members," and advised, "Do not reduce vacations but use them all, even to stimulate domestic demand."

He reiterated the need for thorough disaster prevention against heatwaves, typhoons, and floods, saying, "Since heatwaves will continue for two weeks and typhoons and floods may recur, related ministries should cooperate to prevent casualties caused by climate change."

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