In a bold move to counter what experts are calling a national disaster-level wave of mass business closures, President Lee Jae-myung has rolled out an unconventional economic plan. The strategy, dubbed "President Lee Jae-myung's Economics," aims to stabilize the economy by addressing the root causes of the closures, which have sparked fears of a deepening recession.
The plan, announced during a live broadcast on the YouTube channel "Awesome Economy," features two key interviews. Lee Jung-hwan, an adjunct professor at Sungkonghoe University, and Lee Dong-han, an expert committee member for the People's Solidarity for Livelihood, discussed employee ownership as a potential solution. The segment explored how shifting company ownership to workers could revitalize struggling businesses and prevent further shutdowns.
"We are facing an unprecedented economic emergency," said Lee Jung-hwan. "The current model isn't working for small and medium enterprises. Employee ownership could be the game-changer we need."
The broadcast, which garnered 478 views in its first five hours, also promoted a subscriber event offering coupons worth up to 7,000 won for live chat participation. While the full details of the government's response remain unclear, the move signals a shift toward more interventionist economic policies.