Lee Outlines Economic Vision on 100th Day

President Lee Jae-myung held a press conference at the Blue House’s Yeongbingwan on Sept. 11 to mark his 100th day in office, describing the first 100 days as a period of “recovery and normalization.” He said the remaining four years and nine months would be a time for “leaps and growth.” Lee pledged, “We will drive ‘real growth’ through an innovation-led economy and achieve ‘growth for all,’ sharing the benefits of growth with all citizens.”

Reflecting on the past 100 days, Lee said, “Above all, restoring the people’s economy was urgent. Thanks to the swift supplementary budget and the distribution of consumer recovery coupons, consumer sentiment has rebounded, and various economic indicators have turned upward.” He added, “The KOSPI has surpassed 3,300, reaching a record high, and financial markets are recovering rapidly.” On the most difficult challenge, U.S. tariff negotiations, he said, “We have at least overcome one small hurdle.” On housing market instability, Lee noted, “The belief that investment should go into real estate is almost at its end. It cannot be solved in one or two steps, so repeated measures are inevitable.”

While Lee said, “We performed CPR on a weakened economy,” risks remain. This year’s growth rate is still unlikely to reach 1 percent, and economic pressures from U.S. tariffs are expected to intensify in the second half. The ruling party’s push for the Yellow Envelope Act and two amendments to the Commercial Act has heightened corporate uncertainty and deepened conflicts in industrial sectors.

It is unclear whether the press conference sufficiently alleviated these concerns. Lee defended the Commercial Act amendments, saying, “They do not restrict businesses but pressure unfair or rogue executives and controlling shareholders.” However, companies fear that efforts to correct problems may have unintended consequences, potentially doing more harm than good. On the government’s expansionary fiscal policy, he stated, “If we generate 100 trillion won through debt (government bonds), we can produce even more and repay it,” but concerns over fiscal soundness remain.

The government’s vision of “real growth,” led by advanced industries such as artificial intelligence (AI), will be difficult to achieve without active corporate participation. Contradictions must first be resolved, such as demanding investment and employment while imposing restrictions on businesses. The already enacted Commercial Act and Yellow Envelope Act now require prompt measures to minimize side effects and reduce uncertainty. The president’s promised “leaps and growth” cannot be realized by government action alone; corporate engagement is essential.