President Moon Jae-in talks about the Korean economy with U.S. financial experts and economists at the Intercontinental New York Barclay Hotel on Sept. 20. (Cheong Wa Dae)
By Lee Hana
President Moon Jae-in met with U.S. financial experts and economists at a special talk held in New York on Sept. 20 to discuss the Korean economy and his administration’s fiscal policies.
“At its core, the Korean economy is still robust, with sufficient foreign exchange reserves and a stable credit rating,” said the president at the day’s talk, attended by some 200 financial specialists. “Now is the time to invest in Korea’s burgeoning economy,” he stressed.
“The Korean economy has grown stronger through every major crisis, taking significant economic strides along the way. Right now, the administration is in a period of transition, defining a new economic paradigm that puts people first. We hope to give every citizen an equal opportunity and the chance to take advantage of the country’s economic growth,” said President Moon.
The president explained that the new paradigm would focus on economic growth through employment and earned income, innovation as well as fair trade. “We are reorganizing all our policies related to budgets, tax cuts and finance so that we can create more jobs and increase household incomes,” he added.
Referring to the Korea-U.S. fair trade agreement, the president noted that the deal has helped to expand trade and investment between the two countries. However, he said that in terms of investment, Korea has invested more in the U.S. than the other way around. “Korea’s economy is looking bright, and I ask all of you here to invest more in Korea,” he said.
Before his speech, President Moon held a meeting with eight of the city’s leading financial experts. The roundtable included Goldman Sachs CEO Llyod Blankfein, KKR CEO Henry Kravis, Blackstone Group CEO Stephen Schwarzman, former U.S. Vice President Dan Quayle and U.S. Secretary of State Wilbur Ross.
hlee10@korea.kr
