Christine Lagarde (left), managing director of the IMF, visits President Moon Jae-in at Cheong Wa Dae on Sept. 11.

By Jeon Han and Kim Young Shin
Photos = Cheong Wa Dae

President Moon Jae-in held a meeting with Christine Lagarde, the managing director of the IMF, in Seoul on Sept. 11 to talk about directions for new economic policies in Korea and the world.

President Moon said that his government’s new economic paradigm, “a human-centered economy,” is about income-driven development, which means that the fruits of economic development should be shared evenly across the population. He also said that Korean economic policies meet the IMF’s policy advice, which focuses on an active role for government-led finance and for a balance between domestic consumption and exports.

President Moon Jae-in discusses the Korean and world economies with Christine Lagarde, managing director of the IMF, at Cheong Wa Dae on Sept. 11. President Moon and the IMF chief agreed that female participation in economic activities and reducing the gender gap are crucial parts of economic policy.

The IMF chief praised the Korean government for its economy policy, as it corresponds with inclusive growth, an IMF priority. She said, “Korea’s fair economic policy will lower entry barriers for promising companies to enter the market, prevent excessive domination by conglomerates, boost productivity and contribute to inclusive growth.”

President Moon said, “Fair competition and reformation of the conglomerates will benefit companies by enhancing their international competitive power. Ultimately, companies will benefit from the higher growth potential.”

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