"The Biggest Challenges for the Korean Economy Are Productivity Improvement and New Industry Development"

[Asia Economy Reporter Jin-ho Kim] The Korean Economic Association announced on the 15th that it has selected the seven major challenges facing the Korean economy through a vote by regular members and plans to deliver questions regarding countermeasures on these issues to presidential candidates from both ruling and opposition parties.

The top challenge among the seven economic issues was identified as improving productivity and fostering new industries. Following that, the second was the low birthrate problem, and the third was balancing supply and demand in the real estate market and achieving a soft landing for real estate prices. The fourth was raising the potential growth rate, the fifth was household debt issues, the sixth was income inequality, and the seventh was national debt problems.

The association initially selected 30 candidate issues, then narrowed them down to 15 through a first-round vote by 63 economic discussion panel members. Subsequently, 7 major challenges were chosen through a vote by 1,078 regular members.

The Economic Association explained, "We will officially deliver these seven major Korean economic challenges to the presidential candidates of each party and inquire about their countermeasures regarding these issues."

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