President Moon Jae-in spoke about his administration's policy guideline of a "people-centered economy" in the first session of the G20 summit under way in Argentina.

He said a people-centered economy can lead to more inclusive economic growth with benefits that are evenly distributed, moving a step closer to achieving the "strong, sustainable and balanced growth" mentioned in the G20 leaders' statement in 2009.

Moon said that "putting people first," one of the core messages of this year's G20 summit, has been his long-held political slogan and personal philosophy.

He said that South Korea has achieved rapid economic growth, but it shares the same concerns as the world community.

Moon explained that economic inequality and polarization accelerated during the growth process and growth without employment has caused serious job conditions. 

President Moon introduced the Seoul government's goal to build a people-centered economy, adding that it was implementing measures to achieve fair, innovative and income-led growth with a focus on opportunities, competition and higher household income.