The Korea Herald

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Park to prioritize economic recovery next year

President calls for swift passage of public pension reform

By Korea Herald

Published : Oct. 29, 2014 - 10:41

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President Park Geun-hye urged the National Assembly on Wednesday to support her government’s economic stimulus plan for next year, stressing that it is “the last golden time” for the country to revitalize its economy.

“This is the time for the National Assembly, the government, the people and businesses to join forces to revitalize the economy,” Park said in her 35-minute-long speech urging parliamentary approval of the 2015 budget. “The government will put priority on the economy and has expanded its budget plan by 20 trillion won ($19 billion),” she said.

She also urged the parliament to complete the passage of the public pension reform bill by the end of the year.

(Yonhap) (Yonhap)
Most of her speech was dedicated to detailing her key policy plans, including her reform measures aimed at improving the people’s livelihood, boosting safety and bringing about a creative economy.

It was her second parliamentary address since taking office in 2013.

After the speech, the president met leaders of the two main parties.

Her move was seen as an attempt to seek a breakthrough in a prolonged political deadlock between rival parties and build momentum for the passage of her bills, which have been stalled since early this year.

By Cho Chung-un (christory@heraldcorp.com)