President Moon Jae-in to address National Assembly
- 5 years ago
What can we expect to hear from the president?
It's President Moon Jae-in's third address to the National Assembly since taking office in May 2017.
(The two previous ones were held last year: one for the supplementary budget, and the other for the 2018 budget.)
He's expected to call for the assembly's cooperation to pass the government's expansionary budget proposal -- that will be directed at revitalizing the sluggish domestic economy,... amid a slew of uncertainties at home and abroad.
As part of the government's goal to become an inclusive nation -- Moon will likely say the budget will be used to better the lives of the low-income class,... as well as create jobs for young people.
In that sense,... he will likely emphasis the need for the income-led growth policies that his administration has been pursuing -- as well as the importance of implementing measures to foster innovative growth and establish a fair economy.
On the North Korea front,... the president will likely call for support for his peace drive on the Korean peninsula.... explaining the developments in regards to the North's denuclearization.. saying they're back on track following the inter-Korean summit in September,... and Seoul-Washington summit.
He's also expected to stress the reason behind the ratification of the Pyeongyang Declaration as well as the military agreement,... but we will have to see whether he uses the stage to call on parliament to ratify the April Panmunjeom Declaration.
Some 350 people, including lawmakers and politicans are going to be at the speech -- which is expected to last about 40 minutes.
Prior to the speech... he will be sitting down for a short talk with National Assembly Speaker Moon Hee-sang,... deputy speakers,... the chairs of South Korea's five biggest political parties,... as well as cabinet members.
Ok, so it's a sales pitch to lawmakers, especially those on the opposition side. Specifically then,... give us the figures the government is asking for
The government has proposed a budget of 470-point-5 trillion won (roughly 412 billion US dollars) for next year,... up 9-point-7 percent on year.
It's the sharpest expansion in fiscal spending in a decade,... as it seeks to focus on creating jobs and boosting welfare in the face of a deteriorating job market.
Now the expansionary budget, comes amid a grim outlook for Asia's fourth largest economy, with the government and economic agencies slashing growth forecasts for next year, the plummeting stock market and the job situation remaining bleak.
The biggest chunk as been allotted for welfare, health and jobs at 140 billion dollars,... so just under a third of the total budget. (up 12 percent from this year.)
Another area of significance is the budget solely for job creation -- which is set at 20 billion dollars -- up 22 percent on year.
Massive focus on creating jobs then.... South Korea's unemployment rate remains stubbornly high,... especially for the country's young people and th
It's President Moon Jae-in's third address to the National Assembly since taking office in May 2017.
(The two previous ones were held last year: one for the supplementary budget, and the other for the 2018 budget.)
He's expected to call for the assembly's cooperation to pass the government's expansionary budget proposal -- that will be directed at revitalizing the sluggish domestic economy,... amid a slew of uncertainties at home and abroad.
As part of the government's goal to become an inclusive nation -- Moon will likely say the budget will be used to better the lives of the low-income class,... as well as create jobs for young people.
In that sense,... he will likely emphasis the need for the income-led growth policies that his administration has been pursuing -- as well as the importance of implementing measures to foster innovative growth and establish a fair economy.
On the North Korea front,... the president will likely call for support for his peace drive on the Korean peninsula.... explaining the developments in regards to the North's denuclearization.. saying they're back on track following the inter-Korean summit in September,... and Seoul-Washington summit.
He's also expected to stress the reason behind the ratification of the Pyeongyang Declaration as well as the military agreement,... but we will have to see whether he uses the stage to call on parliament to ratify the April Panmunjeom Declaration.
Some 350 people, including lawmakers and politicans are going to be at the speech -- which is expected to last about 40 minutes.
Prior to the speech... he will be sitting down for a short talk with National Assembly Speaker Moon Hee-sang,... deputy speakers,... the chairs of South Korea's five biggest political parties,... as well as cabinet members.
Ok, so it's a sales pitch to lawmakers, especially those on the opposition side. Specifically then,... give us the figures the government is asking for
The government has proposed a budget of 470-point-5 trillion won (roughly 412 billion US dollars) for next year,... up 9-point-7 percent on year.
It's the sharpest expansion in fiscal spending in a decade,... as it seeks to focus on creating jobs and boosting welfare in the face of a deteriorating job market.
Now the expansionary budget, comes amid a grim outlook for Asia's fourth largest economy, with the government and economic agencies slashing growth forecasts for next year, the plummeting stock market and the job situation remaining bleak.
The biggest chunk as been allotted for welfare, health and jobs at 140 billion dollars,... so just under a third of the total budget. (up 12 percent from this year.)
Another area of significance is the budget solely for job creation -- which is set at 20 billion dollars -- up 22 percent on year.
Massive focus on creating jobs then.... South Korea's unemployment rate remains stubbornly high,... especially for the country's young people and th