President Park pledges reforms in Liberation Day speechUpdated: 2014-08-15 18:31:36 (KST)
President Park Geun-hye used part of her Liberation Day speech on Friday to make a plea to lawmakers.
Calling out political deadlock that has delayed the passage of a number of parliamentary bills, President Park Geun-hye expressed concern that her economic reform drive may lose steam.
She specifically mentioned a policy package announced by the government late last month to inject nearly 40 billion U.S. dollars into the market, and stressed the need for deregulation measures to boost exports and stabilize the economy.
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"Through deregulation, the government will revitalize investments, boost domestic demand and exports. The goal is to improve the livelihoods of the people."
The government plans to levy taxes on firms not spending enough of their profits on investment and salaries, a move aimed at funneling corporate money into households and stimulating the overall economic growth process.
President Park also emphasized the need to root out corruption.
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"I will make reforms to enhance the public's safety and bring an end to the corruption between the government and businesses."
It's a pledge the administration has been making since April's deadly ferry disaster, which uncovered shady ties between government officials and the shipping industry.
An anti-corruption body will be set up to deal with looking at the issue and coming up with measures to tackle it.
Ji Myung-kil, Arirang News.
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