President Lee: "The Middle East war is both a crisis and an opportunity... It is time to fundamentally transform our economic system"

According to Financial News, President Lee Jae Myung of South Korea said on the 9th, "In the short term, the war in the Middle East poses a very serious threat to our economy, and in the longer term, it seems we have reached a point where the economic system of the Republic of Korea (South Korea) must undergo a fundamental transformation."
In his opening remarks at the first plenary meeting of the National Economic Advisory Council held at the main building of Cheong Wa Dae, Lee stated, "In one sense, this is a crisis, but in another sense, it is also an opportunity." He continued, "If we prepare well, this phase can become an opportunity to build a new system that will allow us to take a fresh leap forward."
He went on to stress the importance of policy responses, saying, "The outcome will depend on the mindset we have and the efforts we make as those responsible for implementation."
Addressing youth employment, the president noted, "Companies ask for young people with experience, but young people have no opportunity to gain that experience." He added, "When there are too few opportunities to build experience, it is only right for the national community to create those opportunities."
On the situation in the Middle East, Lee observed, "The current situation might soon be resolved, but even today we hear that there was bombing despite reports of a cease-fire." He assessed, "It is very hard to know when and how this situation will unfold."
He then said, "We must do our utmost to prepare thoroughly in the short, medium, and long term so that our people no longer suffer and can enjoy a hopeful future."

west@fnnews.com Reporter Seong Seok-woo Reporter