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Opposition party slams Park's economic reform plan

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Published : 2014-02-25 15:41
Updated : 2014-02-25 15:56

The main opposition Democratic Party blasted President Park Geun-hye's economic reform plan Tuesday, saying it fails to address the public's real concerns.

Park unveiled the so-called "three-year economic innovation plan" in a nationally televised address marking the first anniversary of her inauguration, vowing to lift the country's potential growth rate to 4 percent, achieve 70 percent employment and lay the foundation for a per capita income of $40,000.

The three core strategies behind these goals would be strong economic fundamentals, innovation and a balance between domestic demand and exports, she said.

The DP, however, demanded fundamental reforms in state affairs and the government's administrative principles.

"The plan is half-baked as it offers no solutions to the problems of the people's livelihoods," DP leader Kim Han-gil said during a mass rally by his party in front of the National Assembly.

Pledges to root out irregularities in the public sector and boost domestic demand fail to address welfare issues and "economic democratization," he said, referring to the administration's stated goal of reining in the power of conglomerates and creating a level playing field for both large and small firms.

"Presidential candidate Park Geun-hye and President Park Geun-hye appear to be completely different people," Kim said. "President Park should understand that what's more frightening than her transformation is the public's change of heart." (Yonhap)

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