President Lee: "Sharing Growth Benefits with the People through the National Growth Fund... Price Stability Is Top Priority"

Presides Over Chief Presidential Secretary Meeting

National Growth Fund to Be Offered from the 22nd

"Driving Productive Finance, Serving as a Catalyst for Asset Growth"

"Growth Not Shared With the People Cannot Be Sustainable"

President Lee Jae-myung announced on May 7 that the "National Participation Growth Fund" will be available for sale starting on the 22nd, stating, "We will foster advanced strategic industries and share the resulting fruits and opportunities of growth with all citizens." He also noted that the increase in consumer prices in April was higher than in March, and instructed that price stability be made the top priority, mobilizing all available measures.

President Lee Jae-myung is speaking at the Senior Secretary Meeting held at the Yeomin-gwan of the Blue House on the 7th. Photo by Yonhap News Agency

In his opening remarks at the Senior Secretary Meeting held at the Yeomin-gwan of the Blue House on the afternoon of May 7, President Lee commented, "The world is now engaged in a war without gunfire for supremacy in the future economic industries. In this situation, the active investment and participation of citizens in the growth of advanced industries will provide new and dynamic vitality to our industry," emphasizing the importance of these efforts.

The National Participation Growth Fund is designed to allow citizens to invest in advanced strategic industry sectors and share in the achievements resulting from industrial growth. President Lee has continuously stressed the need for 'productive finance,' aiming to redirect capital flows that have been concentrated in unproductive assets such as real estate toward advanced industries and the capital market.

President Lee stated, "Growth that does not share results with the people is unsustainable," and added, "The establishment of the National Participation Growth Fund will serve as a robust catalyst for spreading productive finance and contributing to the development of future advanced industries and the stable asset growth of citizens." He further instructed, "Carry out thorough promotion in the remaining period so that more citizens can join the path toward shared growth and enjoy the resulting benefits together. Also, please review carefully to ensure there are no systemic shortcomings."

President Lee also repeatedly emphasized the government's response to high oil prices and inflation. He remarked, "The first round of high oil price relief payments will be completed tomorrow. Thanks to the meticulous preparations by both central and local governments, there was little confusion or inconvenience during this process." He continued, "Please ensure that the second round of payments, scheduled to begin on the 18th, proceeds without any issues by conducting thorough pre-inspections and publicity during the remaining period."

Regarding price pressures stemming from international oil price volatility, President Lee diagnosed, "Due to uncertainties in ceasefire negotiations, petroleum prices have risen by more than 20%, leading to a greater increase in consumer prices in April than in March." He continued, "Thanks to the government's active price management, the rate of inflation has not been as high as that of other major countries, but we cannot afford to be complacent. If inflation persists, the resulting shock will weigh more heavily on people's livelihoods, dampen consumer sentiment, and impose a significant burden on the pace of economic recovery."

Accordingly, President Lee called for price stability to be the top priority and urged the full mobilization of all measures, including ▲ supply chain management for crude oil and key raw materials, and ▲ stabilization of the supply and demand of major items. President Lee stated, "Although it is uncertain how long the war will continue, the future of our economy will depend on how we overcome this crisis. Just as the ground hardens after rain, this crisis may in fact strengthen the Korean economy."

President Lee also mentioned the Basic Act on Life and Safety, which is pending in the National Assembly. He said, "This bill explicitly states that citizens' safety is a basic right. It incorporates our collective reflection and determination that no one should ever lose their life due to the absence of the state." He added, "The Blue House and the government must thoroughly prepare follow-up institutional measures to ensure smooth implementation of the law, and we must mobilize national resources to create a country where everyone is safe."

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