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Moon vows to shore up economy, lay foundation for future


President Moon Jae-in on Thursday pledged to quickly roll out the “Korean New Deal” saying that the country can emerge from the COVID-19 crisis as a leader in the era of digital economy.

Speaking at a meeting with leaders of industries experiencing difficulties due to the COVID-19 pandemic, Moon said that the economic crisis sparked by the pandemic is spreading to a wider range of industries, but the country has built opportunities from crisis.

“We have shaped our future by overcoming crises. During the financial crisis, we built the IT industry, and nurtured green industry during the global economic crisis,” Moon said.

“If corporations, government and the people come together, I am certain that (Korea will) overcome the industrial crisis set off by COVID-19 and become a leader in the era of digital economy.”

The meeting was attended by leaders of major industries including aviation, shipbuilding, automobile, machinery and communications, and representatives from business lobby groups.

At the meeting, Moon stressed the importance of cooperation among large and small businesses, and between labor and management, saying that efforts must be made with the goal of protecting the country’s “industrial ecosystem” as a whole.

Going on to list economic packages the government has rolled out, Moon said that the government will concentrate all resources on economic issues.

“The government will quickly roll out the Korean New Deal. All efforts will be focused on economic recovery, securing competitiveness for the future, protecting jobs and expanding job security,” Moon said.

By Choi He-suk (