Global Economic Times

Lee Jae-myung, President of South Korea, stated, "Consumption coupons will bring warmth to alleyway commercial areas," promoting public participation in dining out and focusing on people's livelihoods.: Hwang Sujin Reporter / Updated : 2025-07-12 13:14:22

On July 12, 2025, President Lee Jae-myung strongly urged the public to dine out to stimulate the stagnant domestic economy, expressing his expectation that "consumption coupons for livelihood recovery" would revitalize alleyway commercial areas.

On July 12, President Lee emphasized on his Facebook page that "the economy thrives when alleyways thrive." He expressed hope that the "consumption coupons for livelihood recovery," which will be implemented starting July 21, would boost domestic consumption, bring warmth to struggling alleyway commercial areas, and create a virtuous economic cycle. This is one of the government's key policies for economic recovery, and public attention is focused on the scale of issuance and where the coupons can be used.

Presidential Leadership: Visiting Alleyway Restaurants and Listening to the Public

This message came after President Lee had dinner with Presidential Office staff at a a grilled meat restaurant in Jongno-gu, Seoul, the previous evening (July 11). This dining event, held under the name "The President Dines Out: A Meal to Revitalize the Alleyway Economy," was unusually open to the public, demonstrating the President's strong commitment to domestic economic revitalization.

At the gathering, President Lee emphasized, "To stimulate consumption, I must dine out more often," showcasing his leadership by example. This is interpreted not merely as an encouragement to dine out, but as an intention to directly show the public the positive ripple effects of consumption on economic revitalization. After the meal, he naturally joined the restaurant owner, staff, and customers to directly hear about their firsthand experiences with the economy and prices. He also expressed gratitude for the hard work of staff members who are silently doing their best in their respective roles, including an employee who went to the emergency room due to overwork, the person in charge of resuming Cheong Wa Dae duties, and a field agent preparing for APEC Gyeongju. Dining together highlighted the President's friendly and unpretentious image.

President Lee mentioned that the vivid opinions he heard during this meeting would be of great help in future policy formulation, reaffirming his commitment to meticulously examine the lives of the people and pursue practical policies.

Significance and Expected Effects of "Consumption Coupons for Livelihood Recovery"

The "consumption coupons for livelihood recovery," which the government plans to issue starting July 21, are a core economic policy aimed at supporting small business owners and self-employed individuals who have faced difficulties due to the recent economic downturn, and at restoring shrinking consumer sentiment. While the specific issuance method and amount have not yet been announced in detail, it is expected that they will primarily be issued in a form usable in local commercial areas, thereby directly channeling consumption into alleyway commercial areas. Experts anticipate that the consumption coupons will boost domestic demand in the short term and contribute to increased sales for small business owners. Furthermore, there are positive forecasts that improving consumer sentiment could also lead to an improvement in hesitant investment sentiment.

However, some concerns have been raised that consumption coupons could fuel inflation. The government is expected to make various efforts to minimize such side effects, such as restricting coupon usage or implementing parallel price stabilization policies. Attention is focused on whether this consumption coupon policy will not merely be a one-time support measure but will serve as a catalyst for long-term economic recovery.

"Public Participation is the Driving Force for Local Economic Revitalization"

President Lee once again encouraged active public participation, emphasizing, "Your participation will revitalize the local economy and, furthermore, become the driving force behind creating a hopeful future for the Republic of Korea." This message underscores the importance of individual consumer activities in economic revitalization, in addition to the government's policy efforts.

The President's dining out initiative and the promotion of consumption coupons are not merely about encouraging consumption; they also convey the meaning of emphasizing the joint efforts of the government and the people to overcome the crisis. Amidst the stagnant economic situation, interest is gathering to see if the government and the people can join forces to regain vitality.