[Anchor]
President Lee Jae-myung delivered a policy speech regarding next year's budget proposal of 820.9 trillion won. Emphasizing that a new growth formula must be applied to overcome inequality and polarization, he stressed the need for a major shift toward "growth for all."
Kang Min-u reports on our top story.
[Reporter]
President Lee Jae-myung delivered a policy speech to explain the government's budget proposal for next year, set at 820.9 trillion won, and to request its passage by the National Assembly.
He stated that despite distinct economic growth, with annual exports nearing the $1 trillion mark, inequality and polarization are deepening, calling for a major transition toward "growth for all," where everyone evenly shares the opportunities and achievements of growth.
[President Lee Jae-myung: "To overcome the limitations of 'K-shaped growth,' we must move beyond the outdated dichotomy of 'growth versus distribution' and present a new growth formula suited to changing times and circumstances."]
Emphasizing that national affairs and the budget must match the scale of the economy as it enters a new dimension, he also stressed the justification for the record-sized budget proposal.
In particular, regarding the newly established Future Response Fund, he described it as a strategic investment platform to support a rebound in the potential growth rate and a "fiscal stabilizer" to respond to fluctuations in tax revenues.
He explained the three principles of next year's budget proposal as follows:
[President Lee Jae-myung: "First, invest boldly, but do not waste on inefficiency. Second, prioritize fiscal expenditure over tax expenditure. Third, give preferential treatment to regional areas for balanced national development."]
He also outlined specific investment plans, including focused support for vulnerable groups and investments in AI and future growth engines.
Prior to the policy speech, President Lee held a preliminary meeting with the National Assembly Speaker, leaders of the ruling and opposition parties, and Supreme Court Chief Justice Cho Hee-dae, with whom tensions had existed over the issue of re-nomination recommendations.
Lawmakers of the People Power Party held signs in protest against President Lee as he entered the National Assembly, while expressing support for Chief Justice Cho.
(Camera: Jeong Sang-bo, Ha Ryung | Video Editing: Lee Seung-hee)
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