President Moon vows more reforms to achieve ‘shared prosperity’
Published : Jan 2, 2020 - 15:38
Updated : Jan 2, 2020 - 15:40
President Moon Jae-in on Thursday pledged to continue his reform drive to achieve the goal of “shared prosperity,” naming prosecution overhaul as one of his top priorities.

“The new leap that we must achieve in the new year is (the) ‘leap of shared prosperity,” Moon said, addressing a meeting of business leaders and representatives from various fields held at the Korea Chamber of Commerce and Industry in central Seoul. 

President Moon Jae-in delivers his New Year address at the Korea Chamber of Commerce and Industry on Thursday. Yonhap

Listing changes and developments from 2019, Moon said the country has taken a big step toward becoming an “innovative inclusive nation.”

The developments cited by Moon include the introduction of 5G network services, increase in the number of unicorns -- startups with a valuation of over $1 billion -- and employment figures. He also mentioned strengthened welfare measures, such as child care and medical services, and changes in wealth distribution.

Saying the way the country is being run must change, he vowed to maintain his administration’s reform drive.

“In the new year, even more clear changes will be made. Reform of power organizations and reforms (to create a) fair society are the beginning,” Moon said.

Power organizations refer to state organizations with investigative powers such as the prosecutors’ office and the National Tax Service.

Government organizations cannot exist above the people, Moon said, adding that social trust can be established only when everyone is equal before the law.

“Legal and systemic reforms will continue until the people can trust power organizations. I expect power organizations to take the lead in the reforms. As the president elected by the people, I will fully exercise the authority according to the Constitution.”

Despite changes made under his administration, he admitted that the goal of making Korea a fair society remains far off. Moon pledged to address unfairness in all areas of society from education and employment to military service and the workplace.

The president also stressed the government’s efforts to boost the economy, saying that regulatory reform and policies for nurturing new industries will revitalize the economy and boost investments.

“(The government) will invest in three new growth engines -- system semiconductors, bio-health and future automobiles -- and lay the foundation to nurture data, networks and artificial intelligence,” Moon said, adding that regulations that hamper the development of new industries and technologies will be amended.

Moon wrapped up his speech by reiterating that “peace community of shared prosperity” will be established.

Saying that the international community is showing more support for the idea of transforming the Demilitarized Zone into an international peace zone, Moon said he will endeavor to gain more room to play an active role in inter-Korean relations.

By Choi He-suk (
헤럴드 에듀