Transition team sets out 110 national tasks for Yoon administration

The tasks will require 209 trillion won, and include the reversal of some policies previously put in place by the Moon administration in the fields of nuclear power and real estate.

Shin Ji-hye

Shin Ji-hye

The Korea Herald


Presidential transition committee chairman Ahn Cheol-soo (Yonhap)

May 4, 2022

SEOUL – Yoon Suk-yeol’s presidential transition committee announced 110 national tasks on Tuesday.

The tasks include reversing the phase out of nuclear power, cut real estate taxes, and improve welfare for soldiers.

The team estimated that the new government would require an additional 209 trillion won ($165 billion) over the next five years to implement the plans.

Yoon Suk-yeol’s government will scrap Moon’s nuclear phase-out policy and work to strengthen the nuclear industry.

Accordingly, the construction of Shin Hanul units 3 and 4 will be promptly resumed. In addition, by changing the application deadline for continuous operation from 2 to 5 years before the end of life to 5 to 10 years, the period of downtime will be systematically minimized.

The government will also aim to export 10 nuclear power plants by 2030 by creating a state support group to promote nuclear exports.

Yoon’s national tasks included a policy to correct the real estate markets that saw runaway prices under the current administration. The incoming government will establish a roadmap to supply 2.5 million houses and relax house-related taxes.

To relieve the burden of real estate taxes, the administration will develop measures to reform the comprehensive real estate holding tax and review the capital gains tax policy for multiple homeowners and reorganize the acquisition tax to ease the heavy burden.

Its North Korea policy will focus on denuclearization. The government will pursue denuclearization negotiations with North Korea based on the principle of reciprocity under close coordination with the US.

The transition team has decided to institutionalize inter-Korean and US security dialogue channels and set up inter-Korean and US liaison offices in Panmunjom or Washington.

The transition committee said it would significantly increase the welfare of soldiers. The payment of “2 million-won monthly salary for soldiers,” which was previously promised by Yoon, was also included in the national task list.

Yoon has also set out plans to reform the law enforcement system following the implementation of the bills to strip prosecutors of their investigative powers.

The new government plans to abolish the Justice Minister’s authority to conduct investigations, strengthen the prosecution’s political neutrality, and abolish the superior status of the criminal investigation office for high-ranking government official, which has been accused of political bias and interference.

The transition team also intends to overhaul the criminal investigation system to prevent delays in investigations and other concerns following the revisions to the Prosecutor’s Office Act and the Criminal Procedure Act.

Specifically, they plan to establish a system in which both the police and prosecutors are responsible for the investigation stages, rather than just police, so that they can strengthen cooperation between the two organizations.

With the bills related to the prosecution passed a plenary session of the National Assembly, the new government also plans to abolish Article 24 of the act on the corruption investigation office for high-ranking officials so that prosecutors and police can investigate corruption crimes with high-ranking government officials.

The committee said that the new set of tasks also raised the political importance of regional areas outside Seoul.

Major economic tasks include regulatory reform for the private sector to boost innovation, strengthening financial and tax support for business, creating jobs through innovation in key industries such as manufacturing, establishing an innovative financial system for the future, in areas such as digital assets, and phasing out the capital gains tax on stocks.

Major tasks in the future sector include intensive nurturing of strategic technologies such as semiconductors and displays to leap forward in science and technology, and secure technological capabilities to open the space era to become a science and technology superpower.

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