President Lee: Even if the Economy Improves, People May Ask, "What About Me?" ... Calls for Improvements to Inclusive Finance

[Financial News] President Lee Jae Myung emphasized on the 21st that fundamental problems must be addressed if people feel a sense of deprivation and ask, "What about me?" even when the economy improves and the growth rate rises. Pointing out that asset gaps tend to widen through the financial system, he instructed officials to explore ways to establish a stable model of inclusive finance for ordinary citizens.
Kang Yoo-jung, senior spokesperson for Cheong Wa Dae, said in a written briefing that President Lee made the remarks during a closed-door session of the 47th meeting of senior secretaries and aides. He was receiving a report from the Office of the Senior Secretary for Economic Growth on a plan to improve the support system for financially vulnerable borrowers.
During the briefing, President Lee asked how the Bank of Korea's profits, which provide funding for inclusive finance, are generated. He then reviewed the amount of public funds allocated to low-income people and financially vulnerable groups.
In particular, President Lee pointed out that the financial system has a strong tendency to widen asset gaps. He stressed that it is the government's role to improve the structures that cause people to feel deprived despite economic growth.
In his public opening remarks, President Lee also noted the gap between improving economic indicators and what people actually feel. Although key indicators such as exports, the growth rate, and national income are improving, he said he feels a heavy responsibility because people are not experiencing the benefits sufficiently.
He continued by reflecting on the people's mandate to form the government, emphasizing that he would carefully consider what people need most and refine state affairs with humility. He called on Cheong Wa Dae and the government to pool their efforts to create substantive changes in people's lives.
Meanwhile, President Lee also received a report from the Office of the Senior Secretary for Social Affairs on a plan to strengthen retirement pension functions through the labor-management-government task force. He asked officials to prepare it as planned.
[email protected] Seong Seok-woo Reporter