Hong Nam-ki: "After the COVID-19 Crisis, 'Job Protection, Economic Vitality Enhancement, and Bold Innovation' Are Important"

Hong Nam-ki, Deputy Prime Minister for Economy and Minister of Strategy and Finance (file photo)
[Image source=Yonhap News]

[Asia Economy Reporter Joo Sang-don] Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, emphasized on the 10th that "protection for vulnerable groups and jobs is important," and stated, "We will actively support self-employed and small business owners, and strive to maintain and stabilize employment."

Deputy Prime Minister Hong made these remarks while attending the OECD Ministerial Council Roundtable held via video conference on the same day.

Hong said, "In terms of promoting economic recovery, it is necessary to balance quarantine measures and economic activities, prepare active fiscal stimulus policies in each country, and enhance economic vitality through smooth trade and labor mobility," adding, "To prepare in advance for the post-COVID-19 era, it is essential to turn the crisis into an opportunity through bold innovation such as proactive investment in non-face-to-face and digitalization."

Deputy Prime Minister Hong also expressed the need for strong international cooperation for the complete eradication of COVID-19 and the early recovery of the global economy. In response, the attending member countries agreed that bold economic response policies and international cooperation are crucial.

Meanwhile, at this meeting, OECD Secretary-General Mathias Cormann announced that the OECD plans to comprehensively present the results of its policy research on COVID-19 response at the Ministerial Council scheduled for the end of October this year.

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