Seoul: President Lee Jae Myung announced that the government is committed to pursuing an expansionary fiscal policy to invigorate the sluggish economy, signaling a possible increase in government spending in 2027. "For the time being, we have no choice but to pursue an expansionary fiscal policy," Lee stated during a policy briefing by the Ministry of Economy and Finance. He emphasized the necessity for a 2027 budget plan to adhere to this strategy.

According to Yonhap News Agency, Lee expressed concerns about the steady decline in the economy, advocating for state intervention to stabilize and revitalize economic growth. He highlighted the need for comprehensive efforts to ensure the economy hits a turning point and begins an upward trajectory.

Lee also called for a reform in the punishment of economic crimes, urging a shift from lengthy criminal proceedings to more substantial financial penalties and fines. He criticized the current legal framework, which often penalizes lower-level employees rather than corporate executives who benefit from such crimes. Lee pointed to a company with a name ending in "pang," likely referring to Coupang, which is under scrutiny for a significant data breach.

During a Cabinet meeting, Lee argued for fines that reflect the severity of corporate violations, stressing that economic sanctions should be proportionate to illegal activities. He urged the government task force to expedite the formulation of these measures, emphasizing that "speed is the key."

In a National Tax Service briefing, Lee called for rigorous investigations into tax evasion by high-income individuals and non-tax revenue-generating entities. He suggested increasing the workforce dedicated to tracking tax evaders, noting that potential additional tax revenues could offset the costs of hiring more officials. Lee also mentioned the possibility of a supplementary budget to support the tax collection team if necessary.