Lee says low growth caused Europe’s unrest; Korea must learn

President Lee Jae Myung said on Tuesday 27 October 2026 that low economic growth was the root cause of social unrest across Europe and that South Korea must learn from the turmoil.

His remarks came as protests and mass demonstrations over rising living costs and economic inequality swept across European nations including France, Spain and Italy, with young people leading many of the demonstrations.

Lee said prolonged low growth had worsened youth unemployment and economic polarisation while weakening public finances and threatening the foundations of social stability.

Lee stressed that South Korea must heed the lessons of Europe’s current turmoil, but he also cautioned against overemphasising any single aspect and drawing forced conclusions.

The Korea Herald attributed the growth-unrest link to Lee’s identification rather than presenting it as an established finding. Yonhap News Agency reported Lee as saying the biggest and most fundamental reason might be low growth, using a more tentative phrasing.

Turning to the domestic economy, Lee said South Korea’s recovery had yet to be widely felt by ordinary households, with disparities in income, wealth and employment opportunities persisting. Young people faced significant difficulties because there simply were not enough opportunities, he said.

His remarks coincided with fresh data showing South Korea’s economy grew 1.0 percent in the third quarter from the previous quarter, driven by robust semiconductor exports and increased investment in manufacturing equipment, according to the Bank of Korea on Tuesday.

Lee said stronger growth would also help stabilise the debt-to-GDP ratio and strengthen public finances, laying the groundwork for sustainable expansion. He instructed officials to mobilise policy measures to invest in future industries, promote domestic consumption and improve people’s livelihoods.

On public safety, Lee called for stronger government action to prevent tragedies such as the 2022 Itaewon tragedy, which killed 159 people, two days before its fourth anniversary on 29 October. He urged the government to ensure follow-up measures for the Basic Act on Life and Safety, set to take effect on 3 December.

Separately, Lee dismissed an ongoing controversy over whether investigative agency chiefs’ attendance at Cabinet meetings could compromise their political neutrality, defending the practice as a way to promote transparency.