Choo Kyung-ho "Next Year Will Be More Difficult Than This Year... Actively Discover Export Engines"

[Image source=Yonhap News]

[Asia Economy Sejong=Reporter Kwon Haeyoung] Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho said on the 27th, "Next year's economy is expected to be more difficult than this year," and vowed to overcome the crisis through export revitalization.

On the same day, Deputy Prime Minister Choo stated at the 11th Emergency Economic and Livelihood Meeting held at the Yongsan Presidential Office building in Seoul, presided over by President Yoon Seok-yeol, "It is a complex crisis situation with global high inflation, high interest rates, high exchange rates, and increased volatility in financial markets," adding, "International organizations are forecasting a decline in global growth and trade."

He presented export revitalization as the key to overcoming the economic crisis.

He diagnosed, "Looking at recent export conditions, the high growth trend continuing since last year is rapidly slowing down from the second half of this year," and "especially semiconductor exports, which account for 20% of our exports, are deteriorating due to the global industry downturn." He then explained, "We will actively discover and support export momentum," and "We will maintain the global super-gap in leading industries such as semiconductors, secondary batteries, and shipbuilding."

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