So now a hundred days into President Yoon's term, where do we stand in terms of the administration's policies and plans for the economy?
It's trying to deal with inflation, rising interest rates, a shortage of housing and uncertainty all around the world.
For an assessment of the Yoon administration so far, we are pleased to welcome back to the program Dr. Oh Joon-seok, Dean of the Business School at Sookmyung Women's University.
Q1. President Yoon came to office with a number of challenges facing him, including the pandemic, the war in Ukraine and other economic difficulties. The focus of his policies to get the economy back on track is the private sector. Professor, what grade would you give the administration so far in its first hundred days?
Q2. Again, the administration's economic policies are centered on private sector-led growth. From the outset, they've been trying to cut red tape in the economy, and they've set up a government body tasked specifically with that. What have they achieved so far?
Q3. In his address this week for National Liberation Day, President Yoon spoke about the need for fiscal soundness. In fact, for the first time in 13 years, the government is actually going to cut the budget next year as interest rates rise around the world. Considering all we're facing right now, do you think these budget cuts will come to fruition?
Q4. Right now, weighing on the economy, we have high prices, high interest rates and a high exchange rate. The rough weather we've had this summer, which many attribute in part to climate change, is pushing food prices higher in particular. What do you make of the inflation situation right now, and how would you rate the Yoon administration's measures to deal with it?
Q5. The administration unveiled its policy yesterday for housing. A major campaign pledge was to ease the regulations on housing, especially on mortgage lending. Prices have risen, but people can hardly borrow anything to buy a house. The administration, it's said by some, has moved too slowly on this front. What do you say, Professor?
Q6. Many of the difficulties facing the economy right now are probably going to be around for a while. If you had some advice for the administration going forward, what would it be?