Poor Scorecard on 3-Month MBnomics
Key Projects Drifting Over Cow Dispute
By Yoon Ja-young
Staff Reporter
President Lee Myung-bak, who won the election last December with a ``save the economy'' slogan, now seems adrift on the mad cow disease dispute.
Faced with nationwide opposition to U.S. beef imports, he has lost steam to execute his ``MBnomics'' policies as planned. Since many of his proposed policies are controversial, public support is crucial for them to be implemented. The public, however, seems to be tired of the new president even though only 100 days have passed since his inauguration.
The Ministry of Strategy and Finance delayed an announcement of measures to enhance corporate competitiveness and the business environment. These are not the only agenda items to be delayed or canceled. The controversial cross-country canal project, for example, was at the core of MBnomics. The new administration expected the mega civil engineering project to boost the economy and create more jobs, helping him achieve the seemingly unachievable 7 percent economic growth pledge.
Many people have fiercely opposed the plan over the possible side effects on the environment of the civil engineering project. Polls currently show over 70 percent opposing the Grand Canal Plan.
The government and Cheong Wa Dae have not given up on the project, but have put it on the backburner for now. The ``Anti Mad Cow Disease Organization'' recently held candlelit vigils opposing the canal project, showing that people annoyed by Lee's handling of beef issue can start opposing his other policies anytime.
The Lee administration has pledged to restructure and privatize public enterprises. The government was scheduled to announce its reform agenda last month, but delayed it to this month. The reform plan is ready, but the announcement has been delayed once more.
The measure, which is certain to face fierce opposition from unions, also needs strong public support. However, they are unlikely to stand by the President on this issue, either. Some exaggerated online rumors alleging potable water could cost 140,000 won a day after the privatization of the water services.
The reform on civil workers' pension, which is already sustained by taxpayers' money, has also been halted for the time being.
Though Lee hurriedly reopened the beef market for the free trade agreement (FTA) with the United States, the issue has made it difficult to get approval from Korean lawmakers either. With the opposition parties focusing on the beef issue, the Korea-U.S. FTA is not even on the agenda.
Many point out that the President fell out of favor due to a lack of communication with people. ``The leadership Lee showed for the last 100 days was authoritarian and was like that of a CEO, which thinks little of how public opinion is formed,'' said Kim Ho-ki, professor at Yonsei University. He said Lee should become ``people-friendly.''