President Lee Jae-myung Discusses Economic Crisis with Ruling, Opposition Leaders

In the context of the economic crisis stemming from the Middle East war, President Lee Jae-myung met with ruling and opposition party leaders on the 7th, emphasizing bipartisan cooperation. This meeting was the first ruling-opposition-government consultative body held since the launch of the Lee Jae-myung administration. President Lee Jae-myung, Democratic Party leader Jeong Cheong-rae, and People Power Party leader Jang Dong-hyuk attended the session, marking the first meeting between the President and party leaders in approximately seven months since September last year.

President Lee refuted criticism of the supplementary budget as populist, stating, "It is by no means a handout populism." He explained that the funds were sourced from excess tax revenue generated by economic recovery in the latter half of last year, rather than from new borrowing or tax increases. "The most important thing is to compensate, even slightly, for the damages incurred due to external crises," he added.

People Power Party leader Jang Dong-hyuk pointed out that some projects within the supplementary budget did not align with their intended purposes, citing examples such as support for TBS and a luggage delivery service for foreign tourists.

Both sides revealed differences in opinion on current issues but expressed a shared commitment to continuing dialogue. President Lee stated, "When opinions differ, I want to meet frequently to speak openly and reduce misunderstandings."