Rival parties question Blue House officials on income-led growth policies
- 6 years ago
The South Korean government's economic policies have been slammed by the opposition lawmakers in the National Assembly.
On Tuesday, they said it was time to go back to the drawing board... because they just aren't working.
The ruling party insists patience is need for the measures to bear fruit.
Kim Min-ji reports.
Officials from South Korea's presidential office were in the hot seat for questioning at the National Assembly on Tuesday as rival parties locked horns over the government's signature income-led growth policies.
Opposition parties criticized the policies... stressing the need for a revision or even a change in direction,... as recent economic data have been dismal.
They said they money pumped in hasn't translated into quality job growth,... and the livelihoods of low-income households have gotten worse.
"The government's policies are aimed at increasing the income of low-income households and spurring investment and job creation at companies. But you do admit that it's not working, don't you?"
"Our government is trying to ease the polarization issue by adopting the income-led growth policy. There are parts that have gotten better, ...and areas that need improvement."
However, the ruling Democratic Party of Korea defended the policies saying the matter is something that needs to be dealt with patience,... adding that they can't blame the policies when the administration has only been in office for just over a year.
Rather, they said the government's initiative should be seen as a long-term plan and more about reforming the economic fundamentals.
"The way I see it, this income-led growth strategy is aimed at a much-needed structural reform of the Korean economy. Previous administrations have tried to do it, and so are we. It's not something rival parties should be bickering over."
"The policies are aimed at boosting domestic demand. What we are pushing for is a shift in economic paradigm. We are not implementing policies for short-term economy revitalization, or temporary job growth."
When asked whether the presidential office has any plans to scrap its controversial special activity funds,... the presidential chief of staff said that it's been cut over 30 percent on year,... and the remaining portion is a must needed budget for the president's diplomatic and security agendas.
Kim Min-ji, Arirang News.
On Tuesday, they said it was time to go back to the drawing board... because they just aren't working.
The ruling party insists patience is need for the measures to bear fruit.
Kim Min-ji reports.
Officials from South Korea's presidential office were in the hot seat for questioning at the National Assembly on Tuesday as rival parties locked horns over the government's signature income-led growth policies.
Opposition parties criticized the policies... stressing the need for a revision or even a change in direction,... as recent economic data have been dismal.
They said they money pumped in hasn't translated into quality job growth,... and the livelihoods of low-income households have gotten worse.
"The government's policies are aimed at increasing the income of low-income households and spurring investment and job creation at companies. But you do admit that it's not working, don't you?"
"Our government is trying to ease the polarization issue by adopting the income-led growth policy. There are parts that have gotten better, ...and areas that need improvement."
However, the ruling Democratic Party of Korea defended the policies saying the matter is something that needs to be dealt with patience,... adding that they can't blame the policies when the administration has only been in office for just over a year.
Rather, they said the government's initiative should be seen as a long-term plan and more about reforming the economic fundamentals.
"The way I see it, this income-led growth strategy is aimed at a much-needed structural reform of the Korean economy. Previous administrations have tried to do it, and so are we. It's not something rival parties should be bickering over."
"The policies are aimed at boosting domestic demand. What we are pushing for is a shift in economic paradigm. We are not implementing policies for short-term economy revitalization, or temporary job growth."
When asked whether the presidential office has any plans to scrap its controversial special activity funds,... the presidential chief of staff said that it's been cut over 30 percent on year,... and the remaining portion is a must needed budget for the president's diplomatic and security agendas.
Kim Min-ji, Arirang News.