Bareunmirae Party's Ex-Leader Calls for Scrapping of Income-Led Growth Drive

Write : 2019-06-20 18:42:18 Update : 2019-06-20 19:23:38

Bareunmirae Party's Ex-Leader Calls for Scrapping of Income-Led Growth Drive

A former joint head of South Korea's minor opposition Bareunmirae Party has urged the Moon Jae-in administration to scrap its income-led growth initiative. 

In a Facebook post on Thursday, Representative Yoo Seong-min said the administration should acknowledge its flagship economic policy has failed. 

Positively assessing Moon’s announcement the previous day of a plan to jump-start innovative development in the local manufacturing industry, Yoo said the government should focus on innovative growth rather than income-led growth during the remainder of its term. 

He said although the government has lost opportunities to grow the South Korean economy due to its obsession with income-oriented policies, it will receive praise from the opposition bloc if it shows courage and moves in the right direction. 

Yoo also urged the government to scrap a plan to increase the number of public employees.

[Photo : YONHAP News]

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