Sol, 4 June (IANS). The newly elected President of South Korea Lee J-Mayang on Wednesday directed to set up an emergency task force to deal with economic challenges as his first executive order. This information was given by Lee’s spokesperson.
According to a report by news agency Yonhap, Lee’s decision to form a task force is in line with the announcement of the Central Economic Policy made during his campaign.
During an election rally last week, Lee said that if he is elected, it would be his top priority to revive the country’s dull economy and improve the livelihood of the people.
He also pledged to present an additional budget of at least 30 trillion von ($ 217 billion), which is speculating that the task force will focus on preparing the additional budget draft.
Lee Han-Jin, head of the Democratic Research Institute, who took over the leadership of the President’s Policy Office under Lee, said in an interview to MBC Radio that an important part of the additional budget to improve livelihood will be allotted to release the regional prepaid voucher programs made to help small traders.
Lee also ordered a separate working meeting on public safety, which will also include officials of local governments, which will be held on Thursday morning.
Experts say that the US is expected to implement measures to revive the stable economy by facing the US aggressive tariff scheme and dual challenges of domestic demand and dual domestic demand by achieving a favorable trade agreement with the US and promoting supplementary budget and advanced industries.
The most important issue for Lee is a trade talks with US President Donald Trump, as Washington’s broad tariff policies have shocked South Korea’s economy dependent on trade.
The new government has to complete dialogue with the US before 9 July, when the period of 90-day suspension of high global charges, including 25 percent fee on South Korea by Trump, is about to end. Soul and Washington have agreed to work towards a comprehensive “package” agreement covering trade and related issues before the end of the 90-day period.
-IANS
PAK/AK
