President Lee: "Issues with Traditional Allies Will Be Addressed in a Future-Oriented Manner Based on Common Sense and Principles"

President Lee Jaemyung emphasized the importance of building healthy and forward-looking relationships with traditional allies, stating, "We need the wisdom to address current issues based on mutual respect, common sense, and principles." His remarks are interpreted as being in reference to recent issues in Korea-U.S. relations, including the ongoing controversy over limits on North Korea-related intelligence and the Coupang incident.

Yonhap News

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Presiding over a Cabinet meeting and an emergency economic inspection meeting at the Blue House on this day, President Lee highlighted the results of his recent tours to India and Vietnam and stated, "Naturally, we must also continue to develop cooperation with our traditional allies." He added, "As a sovereign nation, we will focus on diplomacy that builds genuine friendships with our allies from a position of confidence."

President Lee also noted that the protracted Middle East war is leading to a restructuring of the global economic order and stressed the need to reduce dependency on specific regions.

He stated, "The geopolitical risks triggered by the Middle East war are driving structural changes in the global economy and security landscape. To secure stable growth engines amid these waves of change, we must lower our dependency on specific regions and consistently expand our options through strategic, flexible, and pragmatic diplomacy centered on national interests." He added that he would also broaden diplomatic horizons with the Global South.

Regarding the state of the Korean economy, President Lee assessed that although first-quarter growth exceeded initial forecasts, significant external uncertainties remain. He urged the government to maintain growth through sophisticated policy responses. The first quarter GDP growth rate reached 1.7%, surpassing the earlier projection of 0.9% and marking the highest level in five and a half years.

President Lee said, "With the Middle East war entering its second month, external uncertainties remain high, and there are signs that the shock from high oil prices may spill over into the real economy. True crisis management begins now, so I ask everyone to devote their utmost effort to maintaining economic growth through more refined policy responses." He particularly emphasized accelerating structural innovation in the Korean economy, such as the AI-driven transformation and realization of a circular economy.

Regarding the high oil price relief payments that began being distributed the previous day, President Lee stated, "Just as last year's distribution of livelihood recovery consumption coupons helped ignite the recovery of our economy, we expect similar ripple effects from these relief payments. Please ensure that the public experiences no inconvenience by paying close attention to every detail." He also mentioned freight truck drivers and farmers, saying, "We need to ensure that there are no blind spots in support for citizens most affected by high oil prices. Please also execute other supplementary budgets swiftly."

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