President Lee Jae-myung highlighted the latest national income statistics from the Bank of Korea, stating, "I will do my best to ensure that the leap in the South Korean economy translates into growth for all citizens."
In a Facebook post on June 9, President Lee noted that the real Gross National Income (GNI) growth rate reached 9.2% in the first quarter compared to the previous quarter, marking the highest level since the data was first recorded in 1960. He added that the GNI increased by 13.2% compared to the same period last year, the highest in 37 years since 1988. The nominal Gross Domestic Product (GDP) growth rate also saw a significant rise of 10.5% from the previous quarter, the highest in 50 years since 1976.
GNI represents the total income earned by residents through domestic and international economic activities and serves as a key indicator of purchasing power and living standards.
President Lee emphasized the positive impact of economic growth on fiscal conditions, stating, "This year, the national debt ratio is expected to significantly decrease to the mid-40% range, and tax revenues are projected to increase substantially." He added that this would strengthen fiscal soundness and enhance the capacity for investment in future generations.
He also remarked, "Considering the strengthening of the National Pension Fund, our community's finances are much stronger than when the government took office," and noted that growth rates for all quarters since the administration began have been revised upward.
"For these achievements to be truly felt in the lives and daily routines of our citizens, we must strive to make South Korea an 'indispensable nation,'" he concluded, reaffirming his commitment to ensuring that the economic leap translates into growth for all citizens.
* This article has been translated by AI.
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