President Lee: "It is hard to know when the situation in the Middle East will be resolved... We must be well prepared"

According to Financial News, President Lee on the 9th commented on the situation in the Middle East, saying, "The current situation could be settled soon, but on the other hand, we hear that even today there were airstrikes despite announcements of a ceasefire." He stressed, "We must be thoroughly prepared in the short, medium, and long term so that our people no longer suffer and can enjoy a hopeful future."
Presiding over the first plenary session of the National Economic Advisory Council in Chungmu Hall at Cheong Wa Dae, President Lee stated, "It is very difficult to know when this situation will be resolved," reiterating his concerns.
President Lee noted, "This is the first meeting of the National Economic Advisory Council since the launch of the Popular Sovereignty Government." He added, "I would like to thank Vice Chair Kim Sung-sik and all the members who have taken part for your thorough preparations. The materials you have prepared are very substantial, and there are many proposals that our government can realistically adopt as policy, which has been a great help."
He went on, "In the short term, the war in the Middle East poses a considerable threat to our economy, and in the longer term, it seems that the time has come for the economic system of the Republic of Korea to undergo fundamental change." He emphasized, "In one sense this is a crisis, but in another sense it is also an opportunity."
President Lee said, "Whenever our nation faces a crisis, our people have always tried to come together for the sake of the entire country and community, just as they did in the past gold-collection campaign. They are truly a great people." He continued, "Because this crisis phase will lead everyone to adopt a mindset that accepts change, if we who are actually responsible for state affairs prepare well, this phase can once again become an opportunity. It can be a very good chance to build a new system that allows us to make a fresh leap forward."
At the same time, he stressed, "I believe the outcome will differ depending on what mindset we, who are in charge of implementation, have and how we make our efforts."
President Lee remarked, "In life, crises always come. There is no such thing as a life without crisis, and there can be no society without crisis." He added, "However, far too many people suffer in the process," and went on to mention issues such as youth employment.
He explained, "For example, this is exactly the situation facing young people now. They want to work hard, but there are no opportunities. Companies demand young people with experience, while young people have no chance to gain that experience." He continued, "When there is a lack of opportunities to build experience, it is in fact the responsibility of the national community to create those opportunities. It seems that the materials you have prepared address such issues quite well."
At the meeting of the National Economic Advisory Council, 29 private-sector advisory members including Vice Chair Kim Sung-sik took part, along with nine ministers from ministries such as the Ministry of Economy and Finance (MOEF), the Ministry of Foreign Affairs of the Republic of Korea, the Ministry of Health and Welfare (MOHW), the Ministry of Climate, Energy and Environment, the Ministry of Employment and Labor (MOEL), the Ministry of SMEs and Startups (MSS), MOEF, and the Financial Services Commission. Kim Yong-beom, Chief Presidential Secretary for Policy, and Joon-Kyung Ha, Senior Secretary for Economic Growth, also attended.
The National Economic Advisory Council is an institution established under Article 93 of the Constitution of the Republic of Korea to provide advice to the president when formulating major policies for national economic development. It advises on setting policy directions to respond to key domestic and international economic issues and challenges.
This meeting was the first plenary session of the first-term National Economic Advisory Council under the "Lee Jae-myung administration," convened after the appointment of private advisory members was completed on March 1. It was organized to discuss crisis response and strategies for sustainable growth amid the emergency economic situation caused by the war in the Middle East. The government plans to gather opinions from this meeting and use them to formulate and implement policies aimed at overcoming the current complex emergency crisis and ensuring the continued growth of the Korean economy.
cjk@fnnews.com Choi Jong-geun Reporter