Policy Chief Kim Yongbeom: "We Must Shift State Priorities... Invest in a New Leap Forward for the People"

Policy Chief Kim Yongbeom's August 29 Facebook Message

"Economic Improvement Not Yet Felt by the Public"

Stresses Housing Relief, Support for the Unemployed, and AI Education

Policy Chief Kim Yongbeom stated on August 29, "We must shift the focus of government administration based on the strength we have painstakingly built for growth," adding, "Now is the time to connect this power of growth to the lives and opportunities of our people."

Kim made these remarks on his Facebook page the same day, noting, "Despite news that the national economy is improving, many citizens still find it difficult to feel truly at ease."

Policy Chief Kim Yongbum is speaking at the Cabinet meeting chaired by President Lee Jae-myung held at the Blue House on August 25, 2026. Photo by Yonhap News

Kim said, "The pace of improvement in people’s lives has not matched the speed at which economic figures have recovered," and continued, "While reviving the economy was urgent and creating future growth engines was critical, there is some regret that we should have paid closer attention to how quickly and evenly the benefits of our policies were reaching people's everyday lives during this process."

Kim went on to say, "Is the warmth of recovery sufficiently reaching the lives of ordinary people? It is hard to confidently say yes." He explained, "Given recent stock market trends, instability in the real estate market, and the continued burden of high living costs, economic sentiment among the public is not improving as quickly as the macroeconomic indicators suggest."

He emphasized, "If there are still many people asking when their own lives will improve, it shows there is still a long way to go. If the power of growth does not translate into improvements for each and every citizen, then this story of growth remains only half-complete."

Additionally, Kim noted, "If the three major mega-projects were investments for a major leap forward in Korean industry, it is now time to begin investments for a new leap forward for each individual citizen," adding, "The industrial leap and the reinvigoration of our people must go hand in hand."

He explained, "We must lower the housing burden so that no one has to give up on their future due to housing issues, and we must broaden opportunities for those who want to work but have not been given the chance—helping them continue building their income and careers. For those who lose jobs due to industrial transformation, we need to provide robust support for both their income and transition until they can move on to their next position."

He further elaborated on the need to provide education and training opportunities tailored to the era of artificial intelligence (AI), as well as support such as startup ladders for youth and small business owners.

Meanwhile, regarding the Bank of Korea's move to raise its economic growth outlook for this year to 3.3%, Kim analyzed, "It once again confirms that the stream of growth we have worked so hard to revive is not a temporary rebound but is standing on a sturdier foundation than expected."

Kim stated, "Given the gloomy starting point, it is certainly fortunate that our economy has regained considerable resilience in such a short period. The days of putting out fires and worrying each day that the economy might collapse again are now gradually behind us, giving me a sense of relief that we can finally start to consider what comes next."

This content was produced with the assistance of AI translation services.