[New Year's Address] Choo Kyung-ho "Focus on Macroeconomic Stability... 'Seol Minsheng Measures' to be Announced Soon"

Choo Kyung-ho Deputy Prime Minister of Economy New Year's Address

[Asia Economy Sejong=Reporter Lee Jun-hyung] Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho announced that he will focus on macroeconomic stability and recovery of the livelihood economy next year.

On the 30th, Deputy Prime Minister Choo said in his "New Year's Greeting to the People," "The domestic and international economic conditions our economy faces in 2023 remain difficult." He added, "Structural problems that have not been resolved so far are tangled like a skein amid rapidly changing international situations," and said, "We will thoroughly examine macroeconomic risk factors such as the financial and real estate markets and respond proactively."

Deputy Prime Minister Choo emphasized livelihood stability. He stated, "We will promote livelihood stability through stabilizing living costs to reduce living expenses and expanding employment and social safety nets for vulnerable groups," and announced, "We will release the 'Seol Livelihood Stability Measures' during this week (the first week of January) in preparation for the earlier Lunar New Year than usual." He added, "Despite the delayed budget approval, we will maximize the speed of policy responses, such as promptly executing livelihood budgets to minimize difficulties for vulnerable groups."

He also expressed his commitment to supporting private companies. Deputy Prime Minister Choo said, "We will strengthen comprehensive support such as financial assistance and regulatory innovation to promote corporate exports and investments," and added, "We will also concretize and promote the 'New Growth 4.0 Strategy' for digital technological innovation and securing a super-gap in strategic sectors." Furthermore, he said, "We will accelerate the implementation of the three major structural reforms in labor, education, and pensions, as well as improve future readiness in areas such as population, climate change, economic security, and balanced regional development."

Deputy Prime Minister Choo said, "We have the resilience to overcome crises by uniting as one, especially when the economy is difficult," and expressed confidence, "If the government and the people join forces, we will surely create a 'Korea that overcomes the crisis and leaps forward again' this time as well."

Deputy Prime Minister Choo Kyung-ho Presiding Over Emergency Economic Ministers' Meeting
(Sejong=Yonhap News) Reporter Kim Joo-hyung = Choo Kyung-ho, Deputy Prime Minister and Minister of Economy and Finance (center), is speaking at the Emergency Economic Ministers' Meeting held at the Government Complex Sejong in Sejong City on the morning of the 29th. 2022.12.29
kjhpress@yna.co.kr
(End)


＜Copyright(c) Yonhap News Agency, Unauthorized reproduction and redistribution prohibited＞

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