Inauguration of President Lee Jae-myung, Launch of a Practical Market-Oriented Government Starting with ‘People, Growth, Economy’
Inauguration of President Lee Jae-myung: The Start of a Pragmatic Marketism Government Centered on ‘People, Growth, and Economy’ π
The First Steps of a New Government Focused on Recovery and Economic Revitalization
Table of Contents
Key Values Revealed During the Inauguration: People First π₯
On June 4, 2025, President Lee Jae-myung officially became the 21st President of the Republic of Korea by taking his oath of office at the National Assembly’s main hall. The most frequently mentioned word in his inauguration speech was undoubtedly βpeople,β being cited an impressive 42 times! π’ His statement of wanting to be “the president of all” revealed a sense of sincerity and determination.
He particularly emphasized the importance of investing in future generations by mentioning the sacrifices made by impoverished parents. His message that “the government will also invest for the future like our parents’ generation” was indeed a touching moment. γ γ
Pragmatic Marketism: It’s Time to Act πΌ
The most distinguishing feature of the Lee Jae-myung administration can be described as ‘pragmatic marketism,’ indicating a genuine intent to focus on actual effectiveness rather than theory. Even right after taking office, he promptly activated the Emergency Economic Response Task Force, showing swift action! πββοΈ
Economic experts are paying close attention to the administrationβs plan to “create a virtuous cycle in the economy with fiscal action.” It will be interesting to see what results come from this. What do you think?
Investing in Advanced Industries for the Future π
The plans to expand investments in advanced technology industries such as AI and semiconductors were truly welcome news! π°π· Strategic investments like these are essential for Korea to leap forward as an industrial powerhouse. As global competition intensifies, the government’s role in this area will become increasingly important.
On a personal note, I hope this policy helps create job opportunities for young people. Nowadays, it’s incredibly tough for college graduates to find employment… Many of you probably know job seekers who are struggling, right? Haha.
Supporting Business Activities Through Regulatory Innovation π§
The announcement to switch to negative regulation was likely good news for business owners. Under the aim of ensuring creative business activities, we can expect a more vibrant startup ecosystem in the future. π
In fact, a friend of mine who dreams of starting a business was very happy to hear this news, and if youβre preparing a business, I recommend keeping an eye on this policy!
Quick Policy Execution Through Appointments of Experts π¨βπΌ
The emphasis on expertise and practical capability in the appointments of candidates such as Prime Minister Kim Min-seok and National Intelligence Service Chief Lee Jong-seok was quite impressive. Quick crisis management is needed in this complicated economic situation. β±οΈ
Notably, the emphasis was placed on qualified professionals rather than supporters of the president. It will be interesting to see what kind of results this administration delivers. Regardless of political leaning, I hope that capable individuals can work together to lead the country well!
Future Prospects and Our Role π
The inauguration of President Lee Jae-myung undoubtedly marks the beginning of a new era. However, the key will be the implementation of policies and the creation of results, and it’s time for us citizens to engage actively and participate. πͺ
Particularly, I’m curious about how the Korean economy will respond to growing global uncertainties. What policy of this administration are you most looking forward to? I would love to read your thoughts in the comments!
Frequently Asked Questions
Q1: What exactly is pragmatic marketism?
A: Pragmatic marketism, as championed by the Lee Jae-myung administration, focuses on tangible economic outcomes rather than theories or ideologies. It aims to protect business activities, support entrepreneurship, and innovate unnecessary regulations to invigorate the market.
Q2: What does the Emergency Economic Response Task Force do?
A: This task force was created to respond quickly to the current economic crisis, focusing on urgent issues such as price stabilization, financial market stabilization, and export support.
Q3: What are the specific details of the AI and semiconductor investment plans?
A: The government plans to foster Korea as a leader in AI and semiconductors by expanding R&D budgets and strengthening talent development programs. Tax incentives for related companies are also under consideration.
Q4: What is the first target for regulatory innovation?
A: The initial focus will be on innovating unnecessary regulations affecting startups and business activities, particularly aiming to ease excessive regulations in emerging technology fields.
Q5: What will be the first policy that the general public can feel?
A: Policies aimed at stabilizing prices and creating jobs are likely to be felt first by the public. Various measures to alleviate the cost of living have already been discussed shortly after taking office.
Epilogue: Anticipating a New Beginning
As I observed the inauguration of this government, I felt many things personally. Especially the message of putting ‘people’ first resonated with me, and it will be our responsibility to see how much this will be realized. π
I understand well how crucial regulatory innovation is through a friend who runs a small business. Whenever I listen to his concerns, I feel the need for real change. I hope this opportunity leads to genuine progress.
Have any of you felt something special regarding the inauguration of this government? Or is there an urgent issue that you wish would be addressed? π¬ I would appreciate your thoughts in the comments below!
I will continue to introduce the main policies and achievements of the Lee Jae-myung administration, so please stay tuned. Thank you for reading this lengthy article today! π
