President Moon calls on government to direct all capacity to overcoming COVID-19-linked economic crisis
- 4 years ago
문 대통령 "경제 전시상황...대책 시간 끌수록 국민 피해 가중"
This is like war - the economy, that is.
President Moon Jae-in has likened the current economic crisis to wartime directing all efforts to shore up the economy.
He's again repeated call for a Korean version of the New Deal to create jobs.
Kim Min-ji reports.
President Moon Jae-in has called on the government to go on a national crisis footing by concentrating all its capacity to overcome the economic crisis triggered by COVID-19.
Speaking at a Cabinet meeting Tuesday,... the president likened the situation, economically, to wartime,... and warned that conditions could get worse in the second quarter.
South Korea's economy contracted by 1-point-4 percent on-quarter in the first three months of this year the sharpest quarterly slump in over 11 years.
The economic shock is becoming apparent across all industries. Economically, this is a wartime situation. As a government, we need to be swift, above all. The damage will become greater and the difficulties of the people and businesses more severe if the implementation of measures is delayed.
The president ordered officials to thoroughly prepare so households can quickly apply for emergency relief payments.
The National Assembly is expected to vote on an extra budget bill that will be used to fund the scheme on Wednesday.
The president also highlighted the need for aggressive investment... and the swift implementation of schemes to spur consumption,... adding that a third extra budget will be used to finance a comprehensive plan to promote spending.
We must not lose this opportunity for a third supplementary budget. The time has come for measures to revive consumption, because now quarantine and our daily lives must go on at the same time. People will start their normal socioeconomic activities while adhering to quarantine guidelines and regulations.
In addition, President Moon emphasized the need for a South Korean version of the New Deal to stimulate job creation calling on officials to use the country's strengths to actively carry out large-scale projects in Information Technology.
Kim Min-ji, Arirang News.
This is like war - the economy, that is.
President Moon Jae-in has likened the current economic crisis to wartime directing all efforts to shore up the economy.
He's again repeated call for a Korean version of the New Deal to create jobs.
Kim Min-ji reports.
President Moon Jae-in has called on the government to go on a national crisis footing by concentrating all its capacity to overcome the economic crisis triggered by COVID-19.
Speaking at a Cabinet meeting Tuesday,... the president likened the situation, economically, to wartime,... and warned that conditions could get worse in the second quarter.
South Korea's economy contracted by 1-point-4 percent on-quarter in the first three months of this year the sharpest quarterly slump in over 11 years.
The economic shock is becoming apparent across all industries. Economically, this is a wartime situation. As a government, we need to be swift, above all. The damage will become greater and the difficulties of the people and businesses more severe if the implementation of measures is delayed.
The president ordered officials to thoroughly prepare so households can quickly apply for emergency relief payments.
The National Assembly is expected to vote on an extra budget bill that will be used to fund the scheme on Wednesday.
The president also highlighted the need for aggressive investment... and the swift implementation of schemes to spur consumption,... adding that a third extra budget will be used to finance a comprehensive plan to promote spending.
We must not lose this opportunity for a third supplementary budget. The time has come for measures to revive consumption, because now quarantine and our daily lives must go on at the same time. People will start their normal socioeconomic activities while adhering to quarantine guidelines and regulations.
In addition, President Moon emphasized the need for a South Korean version of the New Deal to stimulate job creation calling on officials to use the country's strengths to actively carry out large-scale projects in Information Technology.
Kim Min-ji, Arirang News.