The newly elected leader of the main opposition party urged the government to take strong measures to jumpstart the nation’s sluggish economy, blasting what President Park Geun-hye has suggested as the nation’s growth strategy.

In her debut speech as a party leader at the National Assembly, The Minjoo Party of Korea’s Chairwoman Rep. Choo Mi-ae said South Korea should move beyond a conglomerate-dominated, export-driven economy toward a “fair economy” by revamping the tax code and increasing the corporate tax rate.
But the opposition chief tried to steer clear of politically sensitive issues, including the bribery scandal involving senior presidential secretary for civil affairs Woo Byung-woo. Instead, she proposed a one-on-one meeting with President Park to address agendas concerning the people’s livelihood.

“Political interests cannot take precedence over our people’s livelihood,” said the party leader in an address to lawmakers. “Regardless of ideological and partisan differences, the government and the Assembly must be practical in doing their business.”

The fifth-term lawmaker, who has echoed the idea of “economic democratization” advocated by her predecessor Rep. Kim Chong-in, devoted much of her speech to highlighting the economic challenges facing Korea and the government’s inability to navigate the issue.

Using the collapse of South Korea’s biggest container shipping company, Hanjin Shipping Co., as an example, Choo asserted the nation’s economy is “in a state of emergency,” and criticized President Park for sticking to the “antiquated” economic policy implemented during her father’s presidency between the 1960s and 1970s

“President Park is now losing the main industry built during her father’s term,” Choo said. “Her economic policy is just dependent upon her father’s growth plan. She is just missing the success story achieved by her father.”

Instead, the chairwoman demanded that the government and businesses implement a fair salary system, overhaul the tax code system and increase the corporate tax rate. She asserted that the measures would ensure fairness in taxation and improve wealth distribution.

Aware of businesses’ opposition to the tax increase -- they have warned that it would hurt their competitiveness -- she urged them either to join the effort or to introduce an alternative. “We should figure out who is more capable of burdening taxes. If businesses can’t join the plan, they should lay out a compelling option,” she said.

The center-left party leader took time to criticize President Park’s hard-line diplomacy for fueling cross-border tension with North Korea, while acknowledging that the communist regime should be blamed for its persistent nuclear ambition.

“Nuclear development is not a method to ensure the regime’s stability and survival,” she said, adding that former President Lee Myung-bak and President Park’s hawkish approach “makes the North a monster without reins.”


By Yeo Jun-suk (jasonyeo@heraldcorp.com)