President Moon Jae-in met with Managing Director Christine Lagarde of the International Monetary Fund at Cheong Wa Dae this morning. They had extensive discussions on trends in the global economy and the direction of the economic policy of the Korean Government.

President Moon explained to the IMF Managing Director that his Administration has set a people-centered economy as a new economic paradigm. He went on to expound on the Korean Government endeavors to realize income-driven growth that would help evenly distribute the fruits of growth in all parts of the economy. The President continued that fair competition and chaebol reform would help enhance the global competitiveness of businesses, which would ultimately benefit them and contribute to increasing their growth potential.

Requesting the IMF`s interest and support in the future, President Moon also called on the organization to expand policy proposals and research activities for the realization of inclusive growth. 

Managing Director Lagarde said that when the benefits of economic growth were widely shared, growth would be reinforced and become sustainable. She went on to say that the direction of the economic growth policy pursued by the Korean Government was in accord with the idea of inclusive growth stressed by the IMF and gave high marks to the policy.

Sharing a common understanding that promoting participation by women in economic activities and reducing the gender gap were very important economic policy directions, President Moon and Managing Director Lagarde exchanged various views on the recent policies of the current Administration, including filling 30 percent of the cabinet with female ministers and raising the percentage of wages paid during maternity leave.