4th June 2017
President Mun discusses his “1 won” budget on a visit to a workplace
The Blue House said that it will be investing heavily in job creation for those who are on low incomes and are facing immediate difficulties. President Mun Jaein expressed his strong will to solve employment issues by creating jobs, and said that his new “1 won” budget will act to stimulate employment. Earners’ incomes have been steadily decreasing over the past year, the Blue House continued, and job shortages and worsening income distribution are only making the situation worse. Jang Haeseong, the Blue House Chief of Policy, said “I think it is important that the government introduces these measures in a timely fashion. A lot of people have lost jobs and have lost their income.”
President Mun plans to increase the number of jobs available by releasing a stimulus package of ₩200 billion, saying that “I will ensure that even a 1-won national budget will surely lead to a job” in a message greeting visitors to the Jobs Commission homepage. The government plans to submit details of its job creation proposal tomorrow (5th of June), which will then be brought to the National Assembly on the 7th.
Analysis: while North Korea’s maneouverings continue to capture international attention, President Mun’s statement highlights that the South Korean economy is the most pressing issue for South Koreans. Elected as a counter to the perceived cronyism and concern for big business of the Bak Geunhye regime, President Mun is now eager to ensure that the electorate sees his policies as oriented towards ordinary working people. Expect his unabashedly populist rhetoric to continue.