Vice Minister Ki Jae: "Next Month's Chuseok Livelihood Measures Announcement... Expansion of Chinese Tourist Attraction"

Emergency Economic Vice Minister Meeting on the 18th

Bang Gi-seon, the 1st Vice Minister of the Ministry of Economy and Finance, stated on the 18th, "We plan to prepare measures to stabilize livelihoods during Chuseok and announce them in early September."

Bang Gi-seon, First Vice Minister of the Ministry of Economy and Finance, is delivering opening remarks at the "29th Emergency Economic Vice Ministers' Meeting" held on the 18th at the Government Seoul Office in Jongno-gu, Seoul.

Vice Minister Bang presided over an emergency economic vice ministerial meeting held at the Government Seoul Office on the same day, saying, "We will thoroughly manage the supply and demand situation of Chuseok seasonal goods and also prepare various discount events in cooperation with the distribution industry."

He continued, "We will implement special transportation measures during the holiday period to ensure there are no inconveniences in travel," and added, "Through the hosting of the Together Sale and support for holiday funds, we will actively resolve the management difficulties of small business owners and small and medium-sized enterprises."

Regarding the persistently high prices of chicken, he promised, "Starting from the 1st of next month, we will implement a new tariff quota of 30,000 tons to quickly introduce it domestically."

On plans to revitalize Chinese tourism, he emphasized, "To expand the attraction of Chinese tourists, we will promptly increase Korea-China flights and improve entry convenience by additionally opening visa application centers in Beijing and Shenyang." China allowed group tours to Korea for the first time in 6 years and 5 months since 2017 on the 10th of this month.

Vice Minister Bang also stated, "In addition, we will expand local tourism promotion by holding a K-tourism roadshow timed with the Chinese National Day holiday and prepare incentive measures to promote domestic consumption," and added, "Detailed plans will be discussed, finalized, and announced in early September."

During the meeting, trends in venture investment for the first half of the year and future response plans were also discussed. Vice Minister Bang evaluated, "Domestic venture investment in the first half of this year totaled 4.4 trillion won. Compared to before COVID-19, performance has improved, but it has significantly decreased compared to the previous year due to economic uncertainties."

He said, "The sluggish domestic venture investment is attributed more to macro factors such as the global economic downturn rather than a lack of investment capacity. If economic uncertainties are resolved, venture investment will also show signs of recovery," and added, "The government will soon announce a comprehensive Startup Korea plan, including support for overseas startups and visa reforms to attract foreign talent."

He further stated, "We will also faithfully implement the currently ongoing venture investment measures, such as expanding policy financial loans and introducing multiple voting rights."

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