Hong Nam-ki: "Social Compromise 'One-Step Model' to Be Prepared in January-February" (Comprehensive)

2020 Economic Community New Year's Meeting

[Image source=Yonhap News]

[Asia Economy Reporter Jang Sehee] Deputy Prime Minister and Minister of Strategy and Finance Hong Nam-ki said on the 3rd, "The Han-georeum model should be implemented as soon as possible," adding, "I think it should be completed within January or February."

After attending the 2020 Economic Community New Year's Meeting held at COEX in Seoul on the same day, Deputy Prime Minister Hong told reporters, "We are analyzing more than ten successful overseas cases and developing menus," revealing this plan.

The government's '2020 Economic Policy Direction' announced on December 19 last year included plans to establish the Han-georeum model. The Han-georeum model means "when each stakeholder takes a small step back, our society takes a big step forward."

Deputy Prime Minister Hong continued, "The Han-georeum model is reviewing intense conflict issues including the sharing economy," and said, "We plan to create menus that allow for win-win outcomes." He added, "We are developing win-win menus such as the Sangsaek Cooperation Fund and memorandums of understanding (MOUs) among co-prosperity entities."

He emphasized, "Rather than leaving the parties alone, the government intends to participate and induce compromise."

Regarding the Lunar New Year livelihood stabilization measures to be announced early next week, Deputy Prime Minister Hong said, "We are preparing measures focusing on ceremonial goods," and added, "This plan also includes alternatives such as releasing stockpiled materials."

Earlier, Deputy Prime Minister Hong stated, "We will form a regulatory task force (TF) to ease regulations in ten major industrial sectors," and said, "I believe this work will greatly help restore economic vitality."

Regarding President Moon Jae-in not attending the economic community New Year's meeting for the third consecutive year, he mentioned, "Most of the people who came today also attended the New Year's meeting at the Korea Chamber of Commerce and Industry the day before," and said, "I think the large-scale economic community New Year's meeting was held."

Previously, on the 2nd, President Moon held a joint New Year's greeting meeting at the Korea Chamber of Commerce and Industry International Conference Hall in Seoul, inviting about 250 key figures from the economic community and government to celebrate the new year.

This content was produced with the assistance of AI translation services.