The First Meeting of the Scenic TF... Deputy Minister of Economy and Finance: "Focusing Policy Capabilities on Stabilizing People's Livelihoods"
[Asia Economy Sejong=Reporter Son Seon-hee] The 'Emergency Economic Response Task Force (TF)', launched under the direction of Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho, was inaugurated on the 11th. Bang Gi-seon, the 1st Vice Minister of the Ministry of Economy and Finance and the TF team leader, urged at the first meeting to "focus policy efforts on stabilizing people's livelihoods by alleviating price pressures, reducing the burden on low-income and vulnerable groups, and recovering damages for small business owners."
According to the Ministry of Economy and Finance on the day, Vice Minister Bang presided over the first meeting of the Emergency Economic Response TF at the Government Complex Sejong in the afternoon and said, "Amid ongoing uncertainties from COVID-19, with the prolonged Ukraine crisis, monetary tightening by major countries, and expanding inflationary pressures, multiple domestic and external risk factors are occurring simultaneously, and considerable difficulties are expected in the macro and livelihood economy for the time being."
As it was the first meeting, the Ministry of Economy and Finance reported that they focused on reviewing and discussing the future operation plan of the TF, trends in financial and foreign exchange markets, prices, and other livelihood economic conditions.
Earlier, Deputy Prime Minister Choo stated, "Our economy is currently in a very serious situation," and ordered the TF to be activated to closely monitor domestic and international risks and macroeconomic conditions and to prepare proactive response measures.
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Attending the meeting were Vice Minister Bang, Han Hoon, Deputy Vice Minister (TF Deputy Team Leader), Yoon In-dae, Director of Economic Policy Bureau, Kim Seong-wook, Director of International Finance Bureau, Lee Jong-hwa, Director of External Economic Bureau, Yoo Hyung-cheol, Director of Treasury Bureau, Kim Wan-seop, Chief Budget Review Officer, and Jung Jeong-hoon, Director of Income and Corporate Tax Policy Bureau.
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