President Moon: "Devote all efforts to maintaining economic recovery... Manage price stability during Chuseok"

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] President Moon Jae-in has instructed the government to make every effort to maintain the economic recovery trend in order to achieve this year's growth and employment targets. He also urged stable management of prices in preparation for Chuseok.

On the 20th at 3 p.m., President Moon received reports from Deputy Prime Minister for Economy Hong Nam-ki on the 'Recent Economic Situation Review and Future Response' and the 'Plan to Stabilize Prices of Major Agricultural, Livestock, and Fishery Products for Chuseok,' and gave these instructions.

Deputy Prime Minister Hong reported that major economic indicators had maintained the trajectory consistent with the growth, employment, and price forecasts presented in the 'Second Half Economic Policy Direction' until June. President Moon said, "To achieve this year's growth and employment targets, above all, please make every effort to maintain the economic recovery trend by early containment of the fourth wave of COVID-19 and minimizing economic shocks."

He added, "If the second supplementary budget passes, please prepare in advance so that support for the affected groups can begin as early as possible."

Regarding the report on the 2021 tax reform bill that followed, President Moon said, "Please prepare for the post-COVID era through tax support that strengthens the transition to a leading economy and enhances economic and social inclusiveness, along with supporting economic recovery."

After receiving the plan to stabilize prices of major agricultural, livestock, and fishery products for Chuseok, President Moon mentioned the need to prepare for summer heatwaves and typhoon damage, and ordered, "Please proactively manage prices in preparation for Chuseok by mobilizing all available government measures to stabilize prices and supply."

Lastly, President Moon urged, "Please actively consider expanding and supporting quarantine medical personnel, whose workload has surged due to the recent COVID-19 situation and whose fatigue has increased due to the heatwave."

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