Choo Kyung-ho: "Establish New Growth 4.0 Strategy to Secure Growth Engines... Incentives for Exports and Investment Next Year"

Next Year's Economic Policy Direction Focused on Overcoming Crisis and Rebound

[Asia Economy Sejong=Reporter Kwon Haeyoung] On the 14th, Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho stated, "We will establish the 'New Growth 4.0 Strategy' to secure growth engines centered on future industries."

At the Emergency Economic Ministers' Meeting held at the Government Seoul Office on the same day, Deputy Prime Minister Choo said, "We intend to prepare and implement a systematic and comprehensive growth strategy to support the re-leap of our economy."

He added, "We will upgrade the past growth strategies focused on Agriculture Growth 1.0, Manufacturing 2.0, and IT Industry 3.0 to establish the New Growth 4.0 Strategy," and "To this end, we will identify and promote key projects in areas such as future advanced fields, digital transformation, and securing strategic industry super-gap."

Support systems including research and development (R&D), finance, global cooperation, talent cultivation, and regulatory innovation will also be improved to back the New Growth 4.0 Strategy.

Regarding the '2023 Economic Policy Direction,' Deputy Prime Minister Choo explained, "The internal and external conditions facing our economy are very difficult, and especially in the first half of next year, the difficulties are likely to intensify," adding, "We will focus on overcoming the crisis and achieving a re-leap."

He emphasized, "We will resolve the current export and investment difficulties through bold incentives and regulatory innovation," and "We will reduce the burden of inflation and living expenses, expand and strengthen jobs and safety nets to support the rapid recovery of the livelihood economy." He further stated, "We will proactively and preemptively respond to changes and risks in economic conditions to manage the macroeconomy stably," and "While accelerating structural reforms in five major sectors?public, labor, education, finance, and services?we will also strengthen preparations for the future, such as population and climate crises and supply chain restructuring."

Deputy Prime Minister Choo concluded, "We will conduct in-depth discussions on the 2023 Economic Policy Direction and the New Growth 4.0 Strategy implementation plan and announce them soon."

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