South Korea's Bold Economic Strategy Under President Lee Jae Myung

South Korean President Lee Jae Myung emphasizes a proactive fiscal policy to reinvigorate the economy following martial law. He aims to boost people's confidence and address challenges like US tariffs and North Korea tensions. His administration proposes a $14.7 billion spending plan to support domestic demand.

In a decisive move to strengthen a beleaguered economy, South Korean President Lee Jae Myung has pledged to implement a robust fiscal policy. Speaking at a news conference marking his 30 days in office, President Lee addressed the nation on his plans to tackle key issues stemming from U.S tariffs and tensions with North Korea.

Lee, elected in June following a shock declaration of martial law by his predecessor, lays his administration's focus on utilizing a $14.7 billion spending initiative aimed at spurring domestic demand. His fiscal agenda seeks to restore citizen confidence shaken by political crises that impacted Asia's fourth-largest economy.

As trade negotiations with the United States progress, President Lee remains candid about the difficulties faced, especially concerning US tariffs. However, he promises continued efforts to sustain crucial alliances while navigating diplomatic relations with both China and Russia, all while fostering peace and economic growth with North Korea.

(With inputs from agencies.)