News analysis

South Korea President Moon draws flak for failing to boost economy

South Korea President under fire for record unemployment and 'fixation' on the North

South Korean President Moon Jae-in yesterday asked Parliament to approve a record $575 billion budget for next year. He said that a structural shift has already begun and the country "cannot afford to turn back to the old methods that aggravate econo
South Korean President Moon Jae-in yesterday asked Parliament to approve a record $575 billion budget for next year. He said that a structural shift has already begun and the country "cannot afford to turn back to the old methods that aggravate economic inequality". PHOTO: AGENCE FRANCE-PRESSE
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Criticism is mounting over South Korean President Moon Jae-in's focus on North Korea, as his approval ratings tumbled over his inability to invigorate the economy and create jobs for young people.

Even as he called on Parliament yesterday to approve a record-high budget of 470.5 trillion won (S$575 billion) next year, which includes the highest-ever job creation budget of 23.5 trillion won, sceptics remain unconvinced that the extra spending will make up for what is deemed a policy failure.

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A version of this article appeared in the print edition of The Straits Times on November 02, 2018, with the headline South Korea President Moon draws flak for failing to boost economy. Subscribe