NEW POLICY TASKS UNDER YOON'S GOVERNMENT

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The presidential transition committee has announced 110 policy tasks of the incoming Yoon Suk-yeol administration. Under the vision of "Korea making a new leap forward, a country of the people where all live well together,“ six goals in state governance have also been unveiled. The announced goals contain major changes to current policies including the real estate market, criminal justice system and nuclear energy phase-out.

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Policy tasks announced by the transition team stand apart from those of the Moon administration in many areas. The most noticeable is the scrapping of the nuclear power phase-out policy. The new administration will resume the suspended construction of the Shin-Hanul No.3 and No. 4 nuclear reactors and actively pursue the export of Korean nuclear plants. Real estate policies will also be changed. For people buying their first home, loan extensions will be expanded to as much as 80% of the property price. Heavy taxation on people owning multiple homes will also be eased.

[Soundbite] Ahn Cheol-soo(Chair, Presidential Transition Committee) : "It’s necessary to restore what was ruined under the current gov’t. This includes normalizing the real estate market and reviving the industrial ecosystem affected by the nuclear phase-out policy."

The justice minister’s right to command investigations, a thorny issue that brewed conflict throughout the Moon administration, will also be abolished. The prosecution and police will also be made to investigate crimes of corruption of senior public officials alongside the existing Corruption Investigation Office for High-ranking Officials. The transition team also criticized the Moon administration’s income-led growth and vowed to push for economic policies centered not on the government but the private sector. The policy tasks did not include abolishing the gender equality ministry or additional deployment of the THAAD missile defense system. The team estimates an additional 209 trillion won will be needed to carry out the tasks. After being briefed on the policy goals, Yoon Suk-yeol said that conditions at home and abroad will be challenging for his administration and stressed the importance of implementation.

[Soundbite] Yoon Suk-yeol(President-elect) : "Implementation is crucial. All-out efforts will be exerted to build a country that leaps forward and where all people prosper together."

The Democratic Party expressed concern and disappointment saying the new government is trying to negate all policy achievements of its predecessor.