MOON STRESSES ECONOMIC REBOUND

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President Moon Jae-in delivered a speech before the National Assembly on the state budget for next year on Wednesday. While stressing that now is the time to bring about a decisive economic rebound, he pledged to focus all government efforts to achieve that goal

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Economy was the key word in President Moon Jae-in's parliamentary speech on Wednesday. He mentioned economy 43 times, making it clear that the government's top priority for next year is to revive the economy.

[Soundbite] PRESIDENT MOON JAE-IN : "Not is the time to achieve a clear economic rebound while keeping the pandemic under stable control."

He highlighted the nation's economic growth rate that expanded for the first time in three quarters, and with the easing of quarantine restrictions, conditions are ripe for boosting domestic consumption. The president said that the government placed top priority on achieving a rapid economic recovery through the 556-trillion-won budget proposal for 2021.

[Soundbite] "It's time to operate measures to revive the economy and get it back on a growth track next year."

He also vowed to employ policies to maintain and create jobs, and to stimulate consumption. Moon also unveiled plans to inject 32 trillion won in the Korean New Deal initiative, which consists of green and digital projects. He also presented a goal to achieve carbon neutrality by 2050. This is the first time the government has set a clear timetable to get to net zero emissions. According to a Cheong Wa Dae official, this indicates the President's commitment to completing a switch to eco-friendly energy. Moon also mentioned ways to tackle the country's housing crisis - particularly, surrounding the jeonse leasing crisis.

[Soundbite] "By implementing the three housing laws and supplying quality public rental homes, the government will stabilize the jeonse lease home market by all means."

His remarks suggest that the government will maintain its stance on its real estate policies, despite criticism that the jeonse house leasing crisis was fueled by the current administration's regulations. The top office expects the leasing housing market to gradually stabilize by the end of the year. While emphasizing that bipartisan cooperation is crucial in a crisis, the president urged the National Assembly to quickly pass economic bills aimed at improving the livelihoods of the people. He also called on lawmakers to approve the launch of an independent agency tasked with investigating corruptions involving high-ranking government officials.

[Soundbite] "I am asking the National Assembly to finalize the launch of the independent agency, which will fulfill the public's wish for fair investigations and the reform of government agencies in power."

Moon reaffirmed the government's policy to continue to seek dialogue with North Korea. Regarding the recent government official's death confirmed to have been by North Korean troops' shots fired near a western border island... the President said the incident further confirmed the urgent need for establishing lasting peace on the Korean Peninsula. He said his administration will continue to seek dialogue with the North.