[New Year's Address] Hong Nam-ki: "The Government Will Work Harder for a Fast and Strong Economic Rebound"

Hong Nam-ki, Deputy Prime Minister for Economy and Minister of Strategy and Finance. (File photo)

[Sejong=Asia Economy Reporter Joo Sang-don] Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, promised on the 31st, "For a fast and strong economic rebound next year, the government will work harder to achieve a 3.2% growth rate and create 150,000 jobs through a 'V-shaped' recovery."

On this day, Deputy Prime Minister Hong expressed this ambition in his "New Year's greeting to the people for the Year of the Ox (辛丑年)."

Hong Nam-ki said he would focus on four key areas: ▲ overcoming the COVID-19 crisis ▲ fast and strong economic rebound ▲ securing a definite future preparedness to raise the potential growth path ▲ managing risk factors. He stated, "We will spare no policy support to provide quarantine assistance and overcome damages so that we can return to the pre-COVID-19 daily life." He added, "In particular, we will promptly implement the customized damage support measures announced at the end of last year in response to the third wave of infections, and at the same time, the government will be a strong pillar embracing the vulnerable and disadvantaged groups who are always struggling."

To achieve a fast and strong economic rebound, he explained that the government will actively execute a 110 trillion won investment project involving the public sector, corporations, and private capital, and will also open export channels through online and non-face-to-face export support. Especially, the government plans to focus on creating quality private-sector jobs for young and middle-aged people whose employment opportunities have shrunk. Along with this, as part of future preparedness to turn the COVID-19 crisis into an opportunity, the government will accelerate policy tasks to promote the three big innovative growth industries (system semiconductors, future cars, bio-health), the Korean New Deal, and the creation of an eco-friendly green society.

Hong Nam-ki said, "We will make every effort so that our economy can overcome strong headwinds and leap to a higher level. Above all, the government will take the lead." He concluded, "I will devote myself with the spirit of Saihui’s New Year's declaration, 'One only stops after death.'"

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