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2026-11-02 09:54:25
[Lee Jae-myung: South Korea Must Shift to "Growth Shared by All," Economy Shows V-Shaped Recovery] (1) South Korean President Lee Jae-myung delivered a policy speech on the 2027 budget bill at the National Assembly on the 2nd, stating that South Korea must undergo a comprehensive transformation, shifting from "growth for the few" to "growth shared by all." (2) He stated that to break free from the limitations of the "K-shaped growth" model, which is characterized by increasing inequality and polarization, it is necessary to move beyond the traditional binary debate of growth versus distribution and adopt a new growth model adapted to the new situation and environment. (3) He mentioned that the government has strengthened the positive role of fiscal policy through two supplementary budgets and an expansionary main budget, protecting the South Korean economy and people's livelihoods from the impact of the Middle East war; thanks to this, the South Korean economy is showing a clear V-shaped recovery trend. He also pointed out that the public funds invested during the 1998 foreign exchange crisis will be fully repaid next year.
