By Kim Min-Jeung

President Moon Jae-in stressed that bold regulatory reform is needed in order to encourage new businesses and jobs, during his weekly meeting with senior secretaries at Cheong Wa Dae on Aug. 6.

“The economy is a part of the fabric of everyday life. Economic vitality is about rejuvenating people’s lives,” President Moon said. He said that when businesses become vibrant, income and consumption among the middleclass and ordinary people will start to increase, thereby leading to economic vitality.

To do so, President Moon said that creative ideas and technologies from the people should overcome the walls of regulation. He said that, “An innovative economic environment should be speedily created to energize economic vitality.”

President Moon also asked the National Assembly to work toward swiftly passing a bill that will help with innovation and growth, and urged all sections of the government to work toward a vibrant economy.

jer2co@korea.kr