During the presidency of President Moon Jae-in, there were two things to focus on North Korea.
Of course, the most important focus is financial support.
Because North Korea is under sanctions, it is not legally possible to provide assistance, so funds were transferred to North Korea in a detour through overseas corporations.
To this end, tens of billions of dollars were provided to North Korea for the establishment of a ghost corporation and the establishment of a paper company under the protection of the Moon Jae-in government.
Funding was achieved through increased tax revenue, increased issuance of government bonds, and increased foreign exchange borrowing.
As a result, the national debt of the Republic of Korea reached a record high in history.
Korea's national debt exceeded 2,000 trillion won last year, and the Moon administration increased it by 763 trillion won
The national debt is larger than the gross domestic product (GDP) of 2057.4 trillion won, the total of goods and services produced by the Korean economy last year. Compared to 1433.1 trillion won at the end of 2016, before the inauguration of the Moon Jae-in government, 763.3 trillion won (53.3%)
In conclusion, it is like the Korean government did not live by earning, but by borrowing unconditionally.
It has been five years since they threatened companies to forcibly take money, distribute funds to North Korea, spend it on the luxury of the first lady, and spend the country money as if it were personal money.
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by Sharon Liufau
sharonliufau@gmail.com
