Choo Kyung-ho "Expecting Inflation to Rise by 2% Next Year"

Keynote Speech at the 'Jeju Forum' Hosted by the Korea Chamber of Commerce and Industry

Choo Kyung-ho, Deputy Prime Minister for Economy and Minister of Strategy and Finance, stated, "We will maintain an inflation rate in the mid-2% range in the second half of this year," adding, "The end of the tunnel is not far away."

On the 12th, at the '46th Korea Chamber of Commerce and Industry Jeju Forum' held in Jeju Island, Deputy Prime Minister Choo said in his keynote speech, "In July, consumer prices will be below 2.7%, and although prices may seasonally rise during the peak season in August and September, they will stabilize afterward." He forecasted an inflation rate of 2% for next year.

However, Deputy Prime Minister Choo reiterated the existing stance on the supplementary budget, saying, "A supplementary budget is like saying let's borrow more debt, a debt party."

He also said, "Although the semiconductor market is expected to improve, I cannot guarantee it," adding, "It is uncertain when the recovery will happen, whether the recovery period will be delayed, how the Chinese economy will perform, and whether the impact will be severe."

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