The second chance meeting reviewing our meeting on May 19 will be held on June 7. Please also add June 16th to your diary which is the date of the June meeting where we will be making our annual review of the Chaebol’s progress.
As we said in the last session this is a bad time to become President with a series of insoluble problems, including inflation, supply chain issues, housing supply and demand, and lockdowns in China, as well as the opportunity to make policy mistakes. Add to this the fact that this is the first time since Synghman Rhee’s 1948 Assembly that the opposition has such a majority of seats in the Assembly, so no legislation proposed by the Yoon administration is guaranteed to pass the Assembly. There are already apparent policy contradictions. The incoming government has already committed to put more money into the economy even as the Bank of Korea is taking it out.
After looking at the state of the economy and the cabinet and the rather frivolous shift in the President office we will look in some detail at the quirky 110 action areas that the Transition Committee has put together under some even more quirky headings including “Common Sense Decisions” which form the first five actions. We also hope to have details of the action programmes from the special committees on covid, national unity and regional development. There is going to need to be some fast talking on the issue of GHG emissions and climate change to see if the government is likely to renege on the 2030 pledge.
It is also necessary to look at the foreign policy shifts and what they may mean not just for North Korea with its stream of missiles but for China, Japan and the USA and also for South East Asia.
Since May 19 we have had the Biden visit, the April/May economic data and the strong shift to the PPP in the June 1 elections which will be built into our discussion.
Join us to discuss the outlook for business and society as the country shifts from Moon’s post socialism and to Yoon’s own brand of conservatism.
The second chance session will be available only on line.
Tony Michell Ph.D
Managing Director, KABC Ltd.