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Park Chan-dae (center), acting leader and floor leader of the Democratic Party, speaks during a supreme council meeting at the National Assembly in Seoul on June 9. / Source: Song Ui-joo

The Democratic Party announced on June 9 that it will launch a party-level task force (TF) dedicated to tackling rising consumer prices.

Speaking at a supreme council meeting at the National Assembly, Park Chan-dae, acting party leader and floor leader, said, “The Lee Jae-myung administration activated an emergency economic task force on its first day in office to address pressing issues affecting people’s livelihoods. As the governing party, the Democratic Party will fully support these efforts.”

Park noted that during the presidential campaign, six out of ten voters identified price stabilization as the top priority for the new government. “Food prices, in particular, continue to rise with no end in sight,” he warned.

He added, “Last week’s economic growth forecast was cut in half, and inflation remains high in people’s daily lives. A carton of eggs now costs 10,000 won—what people are calling ‘golden eggs.’”

Park stressed, “As the public says, stabilizing prices must be the starting point for stabilizing livelihoods.”

He also underscored the need for a supplementary budget to boost the economy. “Stimulating consumption is essential for economic recovery. Fiscal spending will serve as a vital pump-priming measure and a major support for people’s lives,” he said.

Park concluded, “The Democratic Party will prioritize swift passage of a supplementary budget for economic recovery. I urge the People Power Party to cooperate quickly as well, especially since it pledged a 30 trillion won supplementary budget during the presidential campaign.”