Moon asks Assembly to cooperate on economic bills

President Moon Jae-in delivers a speech at the start of a weekly meeting with senior presidential aides at Cheong Wa Dae, Monday. Yonhap

By Kim Yoo-chul

President Moon Jae-in asked the National Assembly for wider-scale bipartisan cooperation in handling economic bills, as the economy is on track for one of its worst two-year growth periods in more than half a century.

“Please help the government proceed pending economic bills affecting citizens' daily lives. If you really care about the economy, it's no question that economic bills are certainly having a rather large impact on almost all aspects of citizens' lives,” Moon said at the start of a weekly meeting with senior presidential aides at the presidential office, according to Cheong Wa Dae press pool reports, Monday.

President Moon also asked the political parties to assess the economic bills separately from those relating to political viewpoints. “Because all actions and moves at the Assembly are keenly watched by the public, the political parties should be held accountable. That means the parties should avoid any pitfalls that could or may occur,” Moon said.

The President used Monday's weekly meeting as a session for wrapping up the government's 2019 performances in major events. By appreciating the public's support for the government's key priorities, Moon specifically mentioned South Korea's advances in terms of improving the country's technology localization initiatives after Japan's July decision to impose discriminatory measures on some key industrial parts crucial to South Korea's manufacturing industry.

“Because of Tokyo's decision to impose export curbs, which is unfair, South Korea had experienced some difficulties. But this offered an opportunity to lay a solid ground to improve the localization of core components and equipment,” the President said.

Ahead of the upcoming general election, President Moon is putting more priority on the economy. Battered by signs of an economic slowdown in China and growing uncertainties over the simmering trade war between Washington and Beijing, South Korea's economy is expected to post 2 percent growth this year, down from the previous 2.6 percent forecast, according to recent data by the Bank of Korea.

The central bank stressed that will mark its “lowest level” since the global financial crisis 10 years ago. As the country's economy is heavily reliant on exports, any weak demand for consumer electronics goods from China and the United States is hurting overall exports and sentiment for facilities investments.

He also said his efforts for prosecutorial reform have begun generating “some substantial results.” “I can say South Korea is in a final stage of seeing visible results for the reform of the prosecution,” the President said.

Moon accepted a resignation from former Justice Minister Cho Kuk as Cho, considered one of Moon's top confidants, had been mired in allegations of various financial wrongdoings and abuses of power.

The “Cho saga” had been regarded by many in the South Korean public as the “epitome of unfairness and hypocrisy,” which is against Moon's earlier repeated promises for the creation of a “fair society.” Political analysts said the Cho scandal revealed a severe breakdown of morality and also disappointed Moon's loyal supporters who once defended Cho by equating him to Moon himself.