major surprises there but just give our viewers you might have missed it a brief
summary of what the South Korean leader had to say okay so president moon jaein
speech can be divided into two big chunks one the focus on this
expansionary budget for next year to boost the local economy and asking for
support for his peace drive on the Korean Peninsula now in terms of the
budget he emphasized the need for the record budget which is about four
hundred and twelve billion u.s. dollars and this is to get the economy back on
track which is expected to grow in the two percent range this here he cited a
number of uncertainties including trade protectionism the u.s. rate hike and a
slowing global economy overall he said the country's tax revenue is
stable so it won't hurt the country's fiscal soundness and that a large chunk
will be directed at job creation also fostering innovative growth boosting
household income by AM expanding the social safety net for the vulnerable and
prioritizing safety and raising the quality of life he stressed that another
aspect of North Korea saying it will be another killer for South Korea to
statistics sustain itself down the future he said there have been 3
inter-korean summit this year alone and it's been able to rid the peninsula of
military conflict and is on the road to establishing lasting peace as North
Korea on the US also builds trust now he also pointed out that another u.s. North
Korea summit is in the works and that we should not lose this opportunity to
achieve peace and prosperity not only on the Korean Peninsula but also Northeast
Asia and he also stressed again that peace will be another growth engine for
the country in that sense he said a budget will also be set aside for
inter-korean Economic Cooperation projects now he did not mention at all
about the ratification of the Pyongyang Declaration which took part last week
nor called on Parliament to ratify the Panmunjom declaration but he did ask
Parliament to join their efforts to establish de choros asia and foster
peace on the peninsula well we're just seeing him shaking hands with
lawmakers from a number of different parties there including some of the
opposition parties but given the sales pitch we just heard there Minji before
we let you go and get on with the rest of the news bulletin given what we've
just heard from president noone do you think he did enough to win over at least
some of the opposition parties whose votes he needs to get this budget
through at least the budget he wants through the Parliament well winning
bipartisan support isn't going to be easy we've seen every year delays in the
passage of the budget bill because rival parties have clashed over the specifics
until the very last minute resulting in crunch marathon talks this time it's not
going to be any different especially as the opposition parties are not at all
happy with the government's economic policies giving the weak data we've seen
in recent months and this is especially the government's income growth drive
including its minimum wage hikes which would be seen double digit hikes for
this year and next year so if you recall from their recent parliamentary audits
of the government they've been calling the opposition parties have been calling
on the government to scrap its economic policies and take a new direction
completely because his policies have been forcing small businesses to shut
down or either shed their workers and on top of that the recent job creation
measures are only jobs that are temporary or short-term and the
opposition claims that this is only just to cover up the weak jobs figures yes so
he still has to win people over especially in on the opposition side
because they aren't happy with the way the economy is going right now it seems
as though president moon jaein has put a lot of his eggs in the North Korea
basket so to speak and we must stress that generally speaking the budget bill
the government asks for gets revised and chopped and changed before it's finally
passed and generally a lot of the deadlines are missed as well and it's
only finally agreed to in a modified modified version right at the last
minute so just to add on to that I'm the National Assembly has a month now
right on the budget which will kick off starting next week so we will have to
see how it works out but like you've said it's always being delayed we've
always past the deadline and on top of that there's also the ratification of
the pomander Declaration which rival parties are still clashing over and
given all the budget also contains a portion to support inter-korean projects
it's not going to be easy yeah well on that note that's where
we're going to have to leave president moons budget speeches a pleasure as
always to have you with us Minji we appreciate it thank you very much