By Xu Aiying and Lee Jihae
 

President Moon Jae-in on July 16 said, "The National Assembly’s cooperation will be indispensable for the Korean New Deal to succeed."

Speaking at the opening of the 21st National Assembly in Seoul, he added, "I truly hope that the government and the National Assembly will form a strong solidarity to this end."

"Using the New Deal as a springboard for national development, I hope we will be able to walk the path that equips Korea to become a global leader."
 

President Moon said the Organization for Economic Cooperation and Development predicted that the Korean New Deal, which is based on the digital and green sectors, will improve employment and investment more than expected. Parliamentary cooperation in budget review is necessary for the government to invest KRW 114 trillion in the project by 2025, he added.
 

"I ask for your special attention on the legislation for strengthening social and employment safety nets that have become increasingly important," the president said.
 

He also called real estate policy "the biggest legislative challenge that concerns people’s livelihood at this moment."

"By increasing the burden of owning houses for those with multiple homes and significantly spiking up capital gains tax on real estate sales, we will make sure that you can no longer earn a windfall through speculative investment in real estate," he said.
 

Turning to life after the pandemic, he said, "Peace is also indispensable in our quest to lead a safe life in the post-COVID-19 era."
 

"We will do our best to jointly implement the three principles of renunciation of war, mutual security guarantees and co-prosperity that we had agreed upon with North Korea."
 

The president added, "If irreversible progress in inter-Korean relations and peace on the Korean peninsula can be guaranteed by the National Assembly, it will make the foundation for peace-building on the Korean Peninsula much stronger."
 

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