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 Yongbum stated on August 29, "We must now shift the focus of national administration, building on the hard-won momentum for growth," and added, "It is time to ensure that this momentum translates into better lives and opportunities for the people."

On his Facebook page that day, Kim noted, "Many citizens still find it difficult to truly feel reassured, even with news that the national economy is improving," expressing these thoughts.

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 added, "While the numbers in the economy have rebounded, people's lives have not improved as quickly," and continued, "While reviving the economy was urgent and securing future engines of growth was essential, I regret that we should have paid closer attention to how fast and evenly the benefits of these policies were reaching people's everyday lives."

Kim then said, "Are the benefits of recovery truly reaching the lives of our citizens? It is still difficult to answer that question confidently," and analyzed, "With the recent volatility in the stock market, uncertainty in the real estate market, and the ongoing burden of high living costs, the public's sense of economic improvement is not keeping pace with the macroeconomic indicators."

He went on to stress, "So, if many are still asking, 'When will my own life improve?' then we have a long way to go. If the momentum of growth doesn't translate into improvements in the lives of each and every citizen, then this story of growth remains incomplete."

Additionally, Kim stated, "If the three major mega-projects were investments for a great leap forward in Korean industry, now we must also begin investing in a new leap forward for each and every citizen," and emphasized, "Industrial progress and individual progress must go hand in hand."

He further explained, "We must reduce housing burdens so no one has to give up on their future because of where they live. For those who wish to work but lack opportunities, we must broaden the paths for earning income and gaining experience. For workers who have lost their jobs due to industrial transitions, we must provide substantial support for income and re-skilling until they find new jobs."

Kim also added the need to provide education and training opportunities tailored to the age of artificial intelligence (AI), as well as startup ladders for young people and small business owners.

Meanwhile, regarding the Bank of Korea's recent upgrade of this year's economic growth forecast to 3.3% and other positive outlooks, Kim analyzed, "The data reassures us that the hard-won momentum for growth is not just a temporary rebound, but is standing on a surprisingly solid foundation."

Kim remarked, "Considering how bleak things looked at the starting point, it is certainly fortunate that our economy has regained a significant degree of resilience in such a short time," and added, "Having moved past the emergency phase of anxiously trying to avert disaster day by day, I now feel a sense of relief that we can finally start thinking about what comes next."

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