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President Lee Commits to Backing Businesses, Strengthening Global Competitiveness at Inaugural Ceremony

KO YONG-CHUL Reporter / Updated : 2025-08-20 12:20:00
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SEOUL – In a grand ceremony that symbolically replaced his official inauguration, President Lee Jae-myung has outlined a vision of national empowerment and economic revitalization. Speaking at the "Gwangbok 80th Anniversary, Building the Future with National Sovereignty" event, President Lee stressed his administration's commitment to supporting the business community and fostering a climate of innovation.

"The government will be a strong backer so that entrepreneurs can compete proudly on the world stage," President Lee said, promising to ease regulations and expand financial support for small and medium-sized enterprises (SMEs). This pledge was met with enthusiasm from the SME community, which sees this as a new opportunity for growth.

The President's address also touched upon his diplomatic agenda, highlighting a forward-looking approach to relations with Japan and North Korea. He called for a phased restoration of the 9·19 military agreement with North Korea to build trust and prevent conflicts, a move welcomed by the business sector for its potential to revive inter-Korean economic cooperation.

Held 72 days into his term, the ceremony marked a new beginning for the administration. President Lee’s emphasis on "a country where the people are the owners" and his promise to ensure all citizens share in the fruits of national development resonated with the 3,500 attendees and 80 national representatives. He concluded by calling for national unity to overcome current challenges and build a more prosperous future.

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