Nam Hyun-woo has worked as a staff writer at The Korea Times since 2013, mostly covering business and politics. He currently belongs to the Business Desk where he covers topics such as emerging tech, AI, ICT and Korea's chaebol community. Prior to joining the team, he was the paper's correspondent for the presidential office of Korea during the Yoon Suk Yeol and Moon Jae-in administrations.
First meeting between president, opposition leader to address economic hardships
President Yoon Suk Yeol shakes hands with main opposition Democratic Party of Korea Chairman Lee Jae-myung during their meeting before Yoon's address on state budget at the National Assembly in Yeouido, Seoul, Oct. 31, 2023. Courtesy of presidential office
By Nam Hyun-woo
W250,000 subsidy to be major agenda item in Yoon-Lee talks
President Yoon Suk Yeol and Democratic Party of Korea (DPK) Chairman Lee Jae-myung are poised to address strategies to ease the financial burden felt by the public in their soon-to-be-held meeting, according to the presidential office and the party.
A focal point of the agenda will be Lee's prior proposal to provide a 250,000 won ($180) subsidy for every citizen, a measure labeled "populist" by the ruling bloc.
How they navigate these discussions will stand as a defining moment, shaping the president's capacity to enact his policy agenda through cooperation with the opposition, which has wielded significant influence in the National Assembly for the past two years of his tenure, and is poised to do so for the next three years.
The presidential office said Sunday that discussions are underway with the DPK regarding the scheduling, format, and agenda of the upcoming Yoon-Lee meeting. This follows the president's proposal for the meeting during a phone conversation with Lee on Friday.
During the call, Yoon extended congratulations to Lee and other DPK lawmaker-elects on their victory in the April 10 general elections. The DPK-led opposition secured a landslide win, ensuring its control of the Assembly for the next four years. Yoon also expressed his desire for "frequent conversations on state affairs" with Lee.
Since taking office in May 2022, Yoon has consistently declined Lee's requests for formal meetings, despite their occasional exchange of pleasantries in several encounters. While doing so, their partisan conflicts have escalated, leading to a vicious cycle where the DPK unilaterally passes contentious bills, only for Yoon to veto them.
Then-People Power Party presidential candidate Yoon Suk Yeol and then-Democratic Party of Korea candidate Lee Jae-myung walk away from each other after taking photos before their TV debate at KBS in Yeouido, Seoul, Feb. 3, 2022. Yonhap
The two sides are expected to concentrate on seeking common ground for their discussions, with the most probable topics being ways to ease the financial burden felt by the public and reducing the cost of living.
During his post-election speech on April 16, Yoon reiterated that "improving public livelihood" remains the foremost priority of the government, acknowledging his administration's failure to reduce living costs.
Lee has consistently emphasized easing the financial burden felt by the public as his primary political agenda throughout his election campaign. He pledged a government subsidy of 250,000 won to every citizen in the form of vouchers.
During a YouTube live stream on Friday, Lee said, “The meeting (with Yoon) will mostly be about revitalizing the economy” and it will include the subsidy program and other measures to alleviate the financial burden on the public.
To achieve that goal, the DPK has already urged the government to increase planned state expenditures by 13 trillion won. However, both the government and the ruling People Power Party (PPP) have demonstrated their reluctance to entertain the proposal, citing financial constraints.
Yoon also said that “indiscriminate cash handouts and populism are detrimental to the country’s future.”
Another topic could be the ongoing standoff between the government and doctors over Yoon’s drive to expand the medical school admissions quota.
The government on Friday made a notable concession from its initial proposal to add 2,000 slots annually starting from 2025. Instead, it permitted medical schools to decrease new slots for their enrollment quotas to as few as 1,000 for the upcoming year only. However, doctors rejected the government's offer, asserting that it does not constitute what they said is a "fundamental solution" to resolve the healthcare standoff.
While the government's efforts to halt the medical disruptions remain at a standstill, there is a strong likelihood for the DPK to step in as an arbitrator, given its belief that the number of doctors should be increased.
Rebuilding Korea Party Chairman Cho Kuk, center, reads a statement during six opposition parties' joint press conference on a special counsel probe bill on the death of Marine Corporal Chae Su-geun at the National Assembly in Yeouido, Seoul, Friday. Front row third from left is Reform Party Chairman Lee Jun-seok. Yonhap
In contrast to those concerns, there are additional political issues that the DPK leader may raise, potentially complicating their cooperation.
On Friday, Lee wrote on Facebook that he expects the government and the ruling party to make “a prospective shift in the way of managing state affairs” and “a practical change to revitalize politics.”
The shift Lee was alluding to pertains to Yoon’s stance on the DPK's endeavor to pass bills initiating special counsel probes into several critical matters.
They include the 2022 Itaewon crowd crush, which killed 159 people in a narrow alley in Seoul’s Itaewon area during Halloween weekend; suspicions that the government influenced investigations into the death of a Marine; and stock manipulation and anti-graft law violation allegations surrounding Yoon’s wife Kim Keon Hee.
On Friday, lawmaker-elects of six opposition parties, including the DPK, the minor liberal Rebuilding Korea Party (RKP), and the minor conservative Reform Party, held a joint press conference and urged Yoon and the ruling PPP to pass a special counsel probe bill on the death of Marine Corporal Chae Su-geun, who died last year during a search operation after floods.
“There is no left or right in finding the truth behind Chae’s death and punishing those responsible,” RKP Chairman Cho Kuk said. Cho also said on Saturday, “Yoon should provide an answer to the public sentiment shown in the elections through his responses to the special counsel bills on Chae and the first lady.”