Lee Jae Myung calls for peace regime on Korean Peninsula during Cabinet meeting ahead of war anniversary

President Lee Jae Myung stressed that national security is directly linked to economic issues as he called for building a peace regime on the Korean Peninsula to ensure enduring stability in a Cabinet meeting on Tuesday.

President Lee Jae Myung, center, speaks during a Cabinet meeting at the presidential office in Yongsan District, central Seoul, on June 24. [PRESIDENTIAL OFFICE]

President Lee Jae Myung stressed that national security is directly linked to economic issues as he called for building a peace regime on the Korean Peninsula to ensure enduring stability in a Cabinet meeting on Tuesday.

Speaking to ministers in a meeting convened on the eve of the 75th anniversary of the 1950-53 Korean War, Lee further urged that there be efforts to ensure sufficient compensation for those who made sacrifices to protect South Korea.

"Security is now directly tied to economic issues," Lee said. "Establishing a peace regime on the Korean Peninsula and strengthening security are important tasks to which we must pay close attention."

"We tend to equate security with fighting and winning, but in reality, it is more important to win without fighting, and the most certain way to ensure security is to create peace, a state where there is no need for conflict," Lee said. "Enabling that peace is also the job of politics."

Lee called the anniversary of the beginning of the Korean War on June 25, 1950, "a meaningful day to once again express gratitude to those who made special sacrifices" to protect South Korea.

"I believe it would be a good opportunity to review whether there has been sufficient compensation and respect paid to those who made special sacrifices to protect the Republic of Korea and seek more ways to do so," he added, referring to South Korea by its official name.

Lee then underscored that the world, including South Korea, faces "a very difficult situation," and such crises "bring much greater pain to the poor and the powerless." He said he would discuss measures to stabilize prices and people's livelihoods, urging officials to "pay careful attention to the vulnerable" so that further harm would not be inflicted upon the underprivileged.

On Monday, Lee made a sweeping announcement of Cabinet posts, including his defense, foreign affairs and unification ministers to carry out his administration's security, diplomatic and North Korea policies. The nominees still have to undergo parliamentary confirmation hearings.

Lee skipped a trip to the Netherlands to attend the NATO summit this week following the U.S. attack on Iranian nuclear sites to focus on domestic issues and the economy, sending National Security Adviser Wi Sung-lac in his stead to The Hague.

President Lee Jae Myung, center, and ministers salute the flag ahead of a Cabinet meeting at the presidential office in Yongsan District, central Seoul, on June 24. [JOINT PRESS CORPS]

In turn, Lee told current ministers in his opening remarks that "even if the political situation changes, the essential duties of Cabinet members, who represent the people, remain the same, and urged them to do their best," presidential spokesperson Kang Yu-jung said in a press briefing later Tuesday.

The presidential office said 24 presidential decrees were approved during the Cabinet meeting.

This includes a revision to the Enforcement Decree of the Individual Consumption Tax Act, which extends temporary tax reductions, including some fuel taxes, considering the need to stabilize prices and support public livelihoods due to the situation in the Middle East.

Consequently, the deadline for reduced tax rates for gasoline, diesel and liquefied petroleum gas (LPG) was extended by two months to the end of August.

It also includes a partial amendment to the Enforcement Decree of the Income Tax Act, which stipulates tax exemption criteria for pension payments received through the securitization of death benefits, aimed at supporting the elderly secure a stable income.

Travelers to Jeju will also be able to buy more tax exempt booze, as another bill removed the two-bottle limit for the duty-free allowance for alcohol at designated duty-free shops on Jeju Island.

Duty-free alcohol purchases still need to be within a total of 2 liters and $400.

President Lee Jae Myung convenes a Cabinet meeting at the presidential office in Yongsan District, central Seoul, on June 24. [JOINT PRESS CORPS]

Lee also checked if instructions from the previous meeting had been reviewed by respective ministries and stressed that solutions should not be sought alone but through interagency coordination, according to Kang. If such coordination is impossible, he asked that issues be reported directly to him.

During Tuesday's Cabinet meeting, Lee also instructed Minister of Oceans and Fisheries Kang Do-hyung to review measures to ensure that the Oceans Ministry can be relocated to Busan within the year, according to a presidential official. This was a key campaign pledge, and the target date is sooner than expected. The ministry had initially reported a plan to move by December 2029.

"President Lee called to review measures to see if it was possible to complete the relocation of the Ministry of Oceans and Fisheries by December," the official said.

Presidential officials say Lee is also considering holding a 30-day press conference, breaking the tradition of presidents holding a formal press conference after 100 days in office.

BY SARAH KIM [kim.sarah@joongang.co.kr]