President Lee Again Urges That Competition Must Not Turn Into War

President Lee Jae Myung said on the 2nd, in preliminary remarks ahead of his government address on the 2027 budget bill (the government's spending plan for next year) at the National Assembly, that "there is no great need to worry about fiscal debt (money that must be repaid)," while urging both the ruling and opposition parties that "competition must not become war." Attending the remarks were National Assembly Speaker Cho Jung-sik, Supreme Court Chief Justice Jo Hee-de, Constitutional Court President Kim Sang-hwan, Prime Minister Han Sung-sook, Democratic Party leader Kim Min-seok, Democratic Party floor leader Han Byeong-do, People Power Party leader Jang Dong-hyuk, and Cho Kuk Innovation Party leader Shin Jang-sik. President Lee told the attendees, "In these difficult times, you have greatly helped state affairs, and governance is advancing and stabilizing considerably."

Responding to the opposition's argument for debt repayment, which calls for using fiscal surpluses to reduce national debt, President Lee said it "has some validity," but countered that spending is a worthy investment in the future if it helps lay the foundation for sustained growth. He added that the national debt-to-GDP ratio is falling to around 48 percent, contrary to concerns.

President Lee defined the purpose of the state as "protecting the lives and safety of the people and creating better lives," saying the budget is "the product of that deliberation." He said, "Competition is fine, but competition must not turn into war," adding, "I also think it would be far better if we show the people all of us engaging in reasonable competition together for a better world."