Prime Minister Han affirms commitment to three major reforms

Prime Minister Han Duck-soo, center, attends a ceremony celebrating the National Foundation Day held at the Sejong Center in Seoul on Tuesday. [YONHAP]

Prime Minister Han Duck-soo reaffirmed the government's commitment to the three major reforms promised by the Yoon Suk Yeol administration.

“We have to change the structure of our economy and prepare for the future,” said Prime Minister Han during a speech at the National Foundation Day ceremony held at the Sejong Center in Seoul on Tuesday. “We need to strengthen our national competitiveness by pushing forward with the three major reforms — labor, pension, and education — with determination.”

Han warned that Korea stands on the crossroads, facing the choice of moving forward or backward.

“Our country today faces threats of increasing uncertainties at home and abroad, the reshaping of global supply chains and changing demographics,” Han said.

However, he said crises present opportunities and urged the continuation of the three major reforms to enhance Korea's competitiveness.

The prime minister further highlighted the government's commitment to improving Korea's external credibility while maintaining conservative fiscal management.

To attract investment and foster innovative technology development, the government will pursue bold regulatory reforms.

Han also noted President Yoon's unprecedented diplomatic efforts to promote Korean nuclear energy, defense and industrial sectors on the global stage.

The prime minister cautioned against excessive optimism, despite what he called positive developments, and emphasized the need to harness the collective capacity of the people to forge a new path for the country.

The focus on the economy in the prime minister's speech was echoed during a press briefing held by the president's office later on Tuesday.

President Yoon and his administration intend to prioritize the revitalization of the economy, presidential office spokesman Lee Do-hoon said during a press briefing held later in the day.

"We have now entered the final quarters of this year," Lee said. "The government plans to steer the country by strengthening economic revitalization, primarily centered on exports and investment."

Lee said that President Yoon aims to enhance efforts to attract investment from foreign companies and governments through diplomatic initiatives.

He cited examples such as the 40-trillion-won investment commitment from Saudi Arabia and a similarly sized pledge from the United Arab Emirates.

However, Lee said the specific projects for these investments have yet to be determined.

President Yoon will is reportedly scheduled to travel to Riyadh later this month.

A year ago, Saudi Crown Prince Mohammed bin Salman visited Seoul and held discussions with President Yoon, indicating the importance of diplomatic relations in economic matters.

The prime minister's speech on Tuesday comes amid concern in the Yoon government over the challenging economic situation, with the nation's economy expected to grow by a mere mid-1 percent, and the president’s People Power Party having difficulty garnering support even with the rival Democratic Party neck deep in legal trouble.

The Yoon administration needs a win in next year’s legislative election to take back the DP-controlled National Assembly.

The prime minister also addressed the issue of “fake news,” describing it as a social disaster that undermines trust in the community and threatens the foundations of free democracy.

“The government intends to uphold constitutional values and take stern action against entitlement, illegal practices and collective selfishness,” Han said.

The prime minister added that the government plans to collaborate with legislators to create a bill against disinformation, or so-called “fake news.”

In his speech, the prime minister pledged to address the concerns of the younger generation, including job creation, stable housing supply and policies to help them build their futures. He also vowed to establish a strong social safety net for seniors, ensuring their well-being, job opportunities and a secure retirement.

Han indicated the government's intention to make changes to laws and regulations to enhance public safety, referring to crimes committed against random individuals in public spaces throughout the year.

The prime minister's speech comes amid DP pressure for his removal.

The DP-controlled National Assembly passed a no-confidence motion against Han on Sept. 21, marking the first such recommendation for the dismissal of an incumbent prime minister under the current Constitution.

Han had become the third cabinet member of the Yoon administration to face a no-confidence motion from the DP, following Foreign Minister Park Jin and Interior Minister Lee Sang-min.

While the president declined the dismissal of Park and Lee, the DP impeached the interior minister for alleged failures related to a crowd crush tragedy during a Halloween festival in Itaewon last year.

Lee was suspended from his position for five months until the constitutional court unanimously rejected the DP's impeachment.

The DP was also planning to impeach Defense Minister Lee Jong-sup last month over the death of a marine during a search and rescue mission in July. However, before the DP could make a move, the defense minister resigned.

BY LEE HO-JEONG [lee.hojeong@joongang.co.kr]