Vice Minister Ki Jae: "Next Week's 'Seol Minsheng Stability Measures' Announcement... Protecting Vulnerable Groups and Stabilizing Prices for Ordinary People" (Update)

Kim Yong-beom, First Vice Minister of Strategy and Finance, is delivering opening remarks at the "2nd Innovation Growth Strategy Review Meeting, Policy Review Meeting, and Korean New Deal Review TF Meeting" held on the 15th at the Government Seoul Office.

[Asia Economy Reporter Kwangho Lee] Kim Yong-beom, First Vice Minister of the Ministry of Economy and Finance, said on the 15th, "The government plans to announce the 'Lunar New Year Livelihood Stabilization Measures' next week to ensure that the new determination for the rebound of our economy in 2021 can be more smoothly implemented at the livelihood sites."

At the '2nd Innovation Growth Strategy Review Meeting, Policy Review Meeting, Korean New Deal Review Meeting, and 1st Price-related Vice Ministers' Meeting' held at the Government Seoul Office on the same day, Vice Minister Kim stated, "The core of this Lunar New Year Livelihood Stabilization Measures is 'strengthening the foundation for livelihood stability' and 'supporting the recovery of domestic demand.'"

Vice Minister Kim mentioned, "Recently, the low-income economy is facing more difficult circumstances than ever due to the prolonged COVID-19 pandemic, severe cold waves, and the spread of avian influenza (AI) overlapping," adding, "While prioritizing policy efforts on quarantine and safety, we will also focus on protection and support for vulnerable groups affected by the cold wave."

He also expressed, "Concerns about the burden of food prices have been raised due to increased demand for home-cooked meals from social distancing, poor agricultural yields, and the spread of AI. Ahead of the Lunar New Year, we will expand the supply of major seasonal products and strengthen efforts to stabilize livestock product prices to stabilize prices for low-income households."

Vice Minister Kim emphasized, "We will also strengthen efforts to create momentum for the rebound of our economy through the Lunar New Year holiday," adding, "We will mobilize all available policy measures, including revitalizing traditional markets centered on non-face-to-face methods, so that small business owners and local merchants, who are deeply troubled, can feel the warm atmosphere of the holiday even a little."

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