Moon calls for ‘peace economy’ to counter Japan’s retaliation

President Moon Jae-in has stressed the “urgent need to create a peace-driven economy” to counter Japan’s trade restrictions on exports. “The Japanese government holds advantages over the Korean economy in terms of the size of its economy and the domestic market. The realization of a peace economy through inter-Korean economic cooperation will allow us to immediately catch up with Japan’s advantages.”

In a weekly meeting with his senior presidential aides Monday, Moon also said, “Japan will never succeed in impeding our economic drive.” This is the first time that Moon proposed economic cooperation between the two Koreas as a solution to counter Japan’s retaliatory measures.

“It (Japan) will only serve to inspire us to fortify our resolve to become an economic powerhouse,” he added. “We must turn this situation into an opportunity to engage in a sober self-reflection and establish a springboard for the Republic of Korea to reach a new level. We must not stop at merely overcoming Japan’s trade retaliation, but proceed further to adopt an even wider perspective and summon an unshakable resolve that will help us surpass the Japanese economy.”


Sang-Jun Han alwaysj@donga.com