President Moon Jae-in delivers a speech on the floor of the National Assembly on Nov. 1. (Cheong Wa Dae)
By Lee Hana
President Moon Jae-in addressed the National Assembly on Nov. 1 regarding the proposed 2018 budget allocations, and reiterated the importance of creating a people-focused economy.
“Establishing a people-focused economy is a bold move, a move meant for us and our future generations. I believe that now is the right time for this change,” said the president.
“The rest of the world agrees that this is the direction in which we should head. At this year’s G20 summit, and at the IMF, OECD and World Economic Forums, some of the main topics included resolving economic polarization, nurturing inclusive growth and creating people-focused economies. The U.N. General Assembly this year had the slogan ‘Focusing on People,'” he said.
“The budget proposal and amended tax bills for 2018 were submitted to the National Assembly in order to set in motion a new people-focused economy, and to ensure public welfare and national security. These bills will uphold four major pillars: job creation, an increase in family earnings, a growth in innovation, and national security and safety,” he said.
“Of the budget allocated for 2018, spending on national security was increased 6.9 percent to boost our defense capabilities. This is the highest amount that’s been allocated since 2009. We will also set up a local triaxial system of defense to protect our citizens from North Korean threats,” he said.
Furthermore, the president underscored the multi-faceted principles that guide his administration’s approach toward North Korea. These were: establishing peace on the Korean Peninsula, denuclearizing the Korean Peninsula, taking the lead in resolving North-South issues, peacefully resolving the North Korean nuclear weapons problem, and, finally, taking a firm stance against Pyongyang’s provocations.
Wrapping up his speech, the president said that successfully hosting the upcoming PyeongChang 2018 Olympic and Paralympic Winter Games was a national priority, adding that, “The games will be a golden opportunity to reestablish peace on the Korean Peninsula.”
hlee10@korea.kr
