Meeting with newly appointed Deputy Prime Minister and Minister of Economy and Finance Lee Hyeong-il
National Assembly Speaker Cho Jung-sik met with newly appointed Deputy Prime Minister and Minister of Economy and Finance Lee Hyeong-il at his office Friday, urging him to ensure that economic gains spread across all industries, narrow sectoral gaps and deliver growth that benefits everyone.
Congratulating Lee on his appointment, Cho said it was encouraging that the economy was achieving remarkable growth, with the National Assembly Budget Office raising its forecast for this year's economic growth rate to above 3 percent on the back of a semiconductor boom and improved export earnings. He cautioned, however, that while economic indicators were improving, the benefits had yet to be sufficiently felt in domestic demand and everyday livelihoods. "Making sure that the statistics and results showing economic improvement are also felt in people's daily lives is an important task," he said.
On real estate policy, Cho said the government needed to take seriously criticism that the various measures announced so far had failed to adequately ease housing insecurity. He called on the Ministry of Economy and Finance, as the control tower of economic policy, to comprehensively coordinate housing supply, lending and financial policy, and tax policy — suppressing speculation while protecting genuine end-users — and to do so on a consistent basis.
Cho also urged the government to actively cooperate with the National Assembly's Economic Great Leap Committee, which launched in September to foster ongoing communication and collaboration between the Assembly and the business community.
The speaker added that he would do his utmost as Assembly speaker to boldly reform regulations that hinder economic growth during the regular session, and to support the swift passage of next year's government budget bill and related legislation within the statutory deadline.
In response, Lee said he strongly agreed with remarks Cho had made at the opening of the recent regular session, in which the speaker called for narrowing the gap between the nation's economic scorecard and household finances and ensuring the warmth of growth spreads evenly. "I will focus all our efforts on easing polarization so that the fruits of growth reach people's lives, while firmly consolidating the foundation for economic growth," Lee said.
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