Seoul: President Lee Jae Myung on Thursday urged his senior team to devise ways to curb rising prices and lighten the financial load on citizens. Lee raised the issue during a briefing with his aides, noting that consumer prices had climbed 2.4 % last month, falling short of the Bank of Korea’s 2 % goal for the third straight month.
“People are feeling the pinch from what looks like higher inflation,” he said at the presidential office, according to Yonhap News Agency. “I’m asking the relevant ministries to dig into the supply‑and‑demand dynamics for key consumer goods and to act proactively to keep prices stable.”
He further asked staff to monitor any cases where prices are being raised through unfair price fixing or where monopolistic power is used to make illicit profits. Despite the tough domestic and international environment, Lee stressed that exports have become a beacon of hope, expecting annual turnover to hit a record‑high US $700 billion this year. “That success comes from businesspeople and workers who have pooled their strengths to create products and open new markets, defying protectionist shocks, and from public officials who have supported these efforts,” he added.
The president highlighted the importance of nurturing high‑tech industries amid ongoing trade uncertainties, advocating for pragmatic trade policies that serve national interests. He also urged efforts to diversify export routes and broaden the “economic territory” through partnerships with emerging and developing nations gathered under the “Global South.”
Earlier in the week, Lee praised the main opposition party for its cooperation in passing next year’s budget before the deadline, calling the bipartisan deal a surprise. After the National Assembly approved the 727.9 trillion‑won ($498 billion) budget—thanks to a last‑minute compromise between the ruling Democratic Party and the principal opposition People Power Party—Lee expressed his thanks at the presidential office following a special address commemorating a year since martial law was imposed on December 3.
“Getting the parties to agree on the budget was a real surprise,” he said. In a subsequent press conference with foreign journalists, Lee noted he seeks dialogue and compromise with the opposition, though it can be “frustrating” at times. He emphasized that the recent budget agreement shows there is still room to enhance bipartisan collaboration, underscoring national unity as a top priority.
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