President Lee Addresses Asset Gap, Youth Alienation, Orders Election Probe

President Lee Jae-myung has acknowledged the growing divide in asset ownership and the resulting sense of alienation among young people, despite significant economic achievements. Speaking at a joint State Council and emergency economic inspection meeting, Lee stated that while the semiconductor boom and stock market growth are commendable, they have cast a long shadow of asset polarization.

“

While there are achievements like the semiconductor boom and rapid stock market growth, a deep shadow of asset polarization lies behind them.

"We must keenly accept the alienation felt by young people who see record bonuses and the KOSPI index as stories from another world," Lee told his ministers. He emphasized that young individuals lacking stable job and income opportunities to build assets are the most marginalized in contemporary society. The president called for a comprehensive review of policies to ensure that youth are not deprived of opportunities due to this widening gap.

“

We must keenly accept the alienation felt by young people who see record bonuses and the KOSPI index as stories from another world.

In a separate directive, President Lee addressed the recent controversies surrounding the Election Management Commission's handling of elections. He noted that as an independent constitutional body, direct control is impossible. However, he ordered an increase in investigative personnel for the joint investigation team looking into the commission, expanding the scope of inquiry to include recruitment irregularities, corruption, and budget misuse.

“

Young people who lack the opportunity to build assets through stable jobs and income are the most alienated in this era.

Regarding the volatile global oil market, exacerbated by Middle East conflicts, Lee commented on the government's oil price cap policy. He suggested that the price cap should be "boldly maintained" and potentially lowered further. Additionally, the president instructed the administration to research measures to support the incomes of low-income households struggling with economic polarization.

“

As it is an independent institution stipulated by the Constitution, control is impossible.