Lee orders probe into unfair profits, price collusion

President Lee Jae-myung presides over a senior secretaries’ meeting at the presidential office in Yongsan, Seoul, on December 4. / Yonhap News

President Lee Jae-myung on December 4 called on government ministries to establish robust public–private cooperation to help lay the groundwork for surpassing $1 trillion in exports, following Korea’s recent surge in outbound shipments.

At a senior secretaries’ meeting at the presidential office in Yongsan, Lee noted that exports in November grew 8.4 percent from a year earlier, placing the country within reach of achieving an annual export record of $700 billion for the first time. He praised companies, workers, and public officials for their efforts in navigating global protectionism while developing products and opening new markets.

Still, Lee warned that uncertainties in the global trade environment will persist and urged officials to bolster key industrial capabilities while accelerating the development of advanced future industries. He emphasized deeper cooperation with the Global South to diversify export markets and expand Korea’s economic footprint.

Addressing persistent inflation, Lee said rising consumer prices continue to burden households, stressing that “stabilizing prices is stabilizing people’s livelihoods.” He instructed ministries to closely examine supply conditions for essential goods and to deploy policy tools preemptively.

Lee also ordered thorough investigations into whether companies have colluded to raise prices or used market dominance to secure unjustified profits, saying such practices must be identified and addressed.

In the closed-door portion of the meeting, Lee asked for measures that allow public preferences to be more directly reflected in the government’s fiscal activities, spokesperson Kang Yu-jung said. Lee also called for ways to improve transparency so citizens can easily access budget details and spending information, which he said is crucial for strengthening local government autonomy.

ⓒ "젊은 파워, 모바일 넘버원 아시아투데이"