* Date : 2019-05-15
May 10 marked the 2nd anniversary of the Moon Jae-in administration, brought in by the “Candlelight Revolution.” From the first year of his presidential tenure, President Moon Jae-in has highlighted his administration’s economic agenda, often referred to as “J-nomics,” which relies on the principles of income-led growth, innovation-led growth, and a fair economy, with income-led growth taking the centerpiece. To that end, the government implemented policies that targeted income disparity and easing living expenses. The minimum wage hike, in particular, was described as the bedrock for income-led growth by guaranteeing the quality of life of low-wage workers, thereby triggering equity with growth.
So, what kind of impact has J-nomics had on the Korean economy? To commemorate the 2nd anniversary of the Moon Jae-in administration, “The Chamber” zooms in on the successes and limitations of J-nomics and projects the administration’s economic policy for its third year in office.