President Lee: "Economy Expected to Grow 2% This Year...A Great Economic Leap Where Everyone Shares the Gains"

According to The Financial News, President Lee Jae-myung on the 9th stressed that "this government is firmly determined to break away from the old growth paradigm in which the fruits of growth did not belong to everyone, and instead realize a great economic leap where, as the nation grows, all citizens together share in the opportunities and value created by that growth."
President Lee Jae-myung made these remarks while presiding over a public briefing on the "2026 Economic Growth Strategy" at Cheong Wa Dae on the same day. He added, "This year must mark the first year of a great leap forward for the Republic of Korea, achieving growth across all sectors," noting, "We have organized this occasion to present to the public the 2026 Economic Growth Strategy as a concrete roadmap for a great economic leap."
President Lee said, "This year can be seen as the first year in which the Lee Jae-myung administration fully assumes responsibility for managing the economy," and continued, "Fortunately, last year we worked to revive the shattered livelihoods of ordinary people and prepared in earnest for renewed growth. As a result, we expect the economy this year to grow by around 2%, slightly above its potential growth rate."
He particularly emphasized, "Policies to foster strategic industries such as semiconductors and to normalize financial markets will further strengthen the core advantages of our economy and, I believe, will lead us to a new leap forward."
President Lee went on to say, "We are facing a serious challenge in the form of so‐called 'K-shaped growth,' which is different from the past," adding, "In terms of headline indicators, the economy will likely perform better than last year. However, there is a high possibility that many citizens will not feel any real change in their daily lives."
He continued, "Above all, the imbalances that emerge in this process—the polarization of growth, so to speak—must be taken seriously as a structural question posed by our economic system, not merely as a cyclical fluctuation," and stressed, "We must do our utmost to ensure that the opportunities and fruits of economic growth are shared by everyone, not monopolized by a select few."
President Lee also pledged to draw up extraordinary measures to address youth employment issues. He said, "The shadow of K-shaped growth falling heavily on the younger generation, who bear the future on their shoulders, goes beyond a youth issue and threatens the long-term growth engines of the Korean economy," adding, "We must recognize the reality of our young people being pushed to the edge of an employment cliff as a national crisis, and prepare special measures by mobilizing all available state capabilities."
In addition, President Lee said, "The government must fundamentally reexamine whether current policies are sufficient, and devise effective measures based on policy imagination that is not bound by existing frameworks," calling on ministries to "show meticulous consideration so that young people, small and medium-sized enterprises and startups, and regional areas are treated as the top priority in every policy."

cjk@fnnews.com Choi Jong-geun Reporter