Choo Kyung-ho: "Proper Management of Household Debt Levels Is an Important Policy Goal"

Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho stated on the 22nd, "Stabilizing household debt at an appropriate level is an important policy goal."

Deputy Prime Minister Choo said at the plenary session of the National Assembly's Budget and Accounts Committee that morning, "We consider soundness as a key factor regarding household debt."

Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho and First Vice Minister Bang Ki-sun are talking at the plenary meeting of the Planning and Finance Committee held at the National Assembly on the 22nd. Photo by Hyunmin Kim kimhyun81@

He added, "We will continue policies to manage household debt strictly and consistently," and explained, "We will manage it so that it does not manifest as an overall increase in household loan debt."

Regarding Japan's discharge of contaminated water, Choo emphasized, "We will consider support measures such as stockpiling, assistance, and purchase," and said, "The existing budget has already been allocated, and we can also respond through contingency funds."

On the recent concerns about Saemaeul Geumgo, he said, "We are thoroughly monitoring the secondary financial sector, including Saemaeul Geumgo, and the financial situation is sound," adding, "We are examining delinquency rates and other issues that may arise in some Saemaeul Geumgo institutions."

Regarding the sluggish economic growth rate, he stated, "There are concerns that a lower growth rate means no future, but the economy shrank in 2020 during the COVID-19 pandemic and grew by 0.9% in the first half of this year," and added, "The second half of this year is expected to grow about twice as much as the first half."

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