Economic Policy

[Anchor Lead]

Senior presidential aides have defended the government's economic policies in parliament amid continued criticism that the income-led growth initiative has failed, as evidenced by worsening job figures. They said the three economic pillars of income-led growth, innovative growth and fair economy are not optional, and vowed to carry them out undeterred while acknowledging some differing views exist within the government.

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The presidential office has reiterated that current economic policy guidelines will remain unchanged. The top office called for a comprehensive overview regarding criticism that the income-led growth policy has reached a limit due to the minimum wage hike.

[Soundbite] Rep. Kim Sung-tae(Liberty Korea Party) : "You do realize that the plan to increase real income in order to boost consumption, corporate investment and employment is not working well?"

[Soundbite] Im Jong-seok(Pres. Chief of Staff) : "Some areas have improved while other areas have not."

The office also addressed the disputed conflict over economic policies between the presidential office and the government.

[Soundbite] Jang Ha-sung(Pres. Chief of Staff for Policy) : "There can be difference in opinions and there really is. We hold discussions, at times very heated debates. But I believe policy selections made through this process have more power in their execution."

Opposition parties also continued their offensive over the replacement of the chief of Statistics Korea, the nation's main statistical agency. But the top office stressed there was no political consideration in appointing a new chief to the agency. The presidential office also sought to ease concerns about rumors of the national pension fund possibly drying up. It promised to assure the government's responsibility when it comes to pension payments.