Centralized economic command proposed despite record stimulus and looming interest rate cut failing to boost demand
Democratic Party presidential candidate Lee Jae-myung delivers a speech during a campaign rally at Gumi city, May 13, 2025 | Image: Lee Jae-myung’s campaign
Democratic Party presidential candidate Lee Jae-myung said Sunday that forming an emergency economic task force would be his first act if he is elected in the upcoming June 3 snap election. Lee framed the move as a necessary response to what he called a “triple-wave crisis” of domestic stagnation, geopolitical volatility and deteriorating business conditions. The task force would be led directly by the president and tasked with launching short-term stimulus, boosting consumption and coordinating policy across ministries to stabilize livelihoods.
Lee argued that the current economic situation demands rapid executive action and pledged to use fiscal policy to jump-start the country’s stalled growth engine. He also called for a supplementary budget and said he would prioritize regulatory reforms to assist small business owners. Describing his approach as one of “economic wartime footing,” Lee said the task force would focus on executable measures with immediate impact.
Democratic Party presidential candidate Lee Jae-myung said Sunday that forming an emergency economic task force would be his first act if he is elected in the upcoming June 3 snap election. Lee framed the move as a necessary response to what he called a “triple-wave crisis” of domestic stagnation, geopolitical volatility and deteriorating business conditions. The task force would be led directly by the president and tasked with launching short-term stimulus, boosting consumption and coordinating policy across ministries to stabilize livelihoods.
Lee argued that the current economic situation demands rapid executive action and pledged to use fiscal policy to jump-start the country’s stalled growth engine. He also called for a supplementary budget and said he would prioritize regulatory reforms to assist small business owners. Describing his approach as one of “economic wartime footing,” Lee said the task force would focus on executable measures with immediate impact.
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