President Moon Jae-in has called for a more aggressive fiscal policy so that the South Korean people can sense improvements in the quality of their daily lives.
At a meeting on state finances and strategy on Thursday, Moon highlighted the urgency of social restructuring to solve issues regarding low growth, polarization, unemployment, the low birth rate and an aging population.
The president implored officials to be bold in implementing finances to increase employment, reinforce social safety nets and assist the self-employed, and to encourage the private sector to take on more innovative challenges.
Emphasizing the need to accelerate his signature innovation and inclusive nation policy, Moon said money spent toward the initiative should be considered as investments into restructuring the country's economic and social systems.
He then urged parliament to return to business and swiftly approve the government's pending supplementary budget bill.