Hong Nam-ki "Comprehensive Economic Trend Review in Early to Mid Next Month... Full Effort on Price Management Ahead of Seollal"

Expanded Executive Meeting

Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki is presiding over the expanded executive meeting of the Ministry of Economy and Finance at the Government Complex Sejong on the afternoon of the 24th. 2022.1.24 [Image source=Yonhap News]

[Sejong=Asia Economy Reporter Son Seon-hee] Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, urged on the 24th, "Since economic indicators that can gauge global economic trends, financial market volatility, and the current economic situation are scheduled to be announced one after another from the beginning of the year, we must always be prepared to respond promptly and meticulously," adding, "Based on the inspection results, prepare for a comprehensive review of economic trends in early to mid-February."

Deputy Prime Minister Hong made these remarks during an expanded executive meeting held at the Government Complex Sejong in the afternoon, attended by the Vice Minister of Economy and Finance and key executives at the first-grade and director levels. He also requested ▲checking external economic trends and strategies ▲reviewing domestic and international financial volatility through expanded meetings with the Governor of the Bank of Korea and the Chairman of the Financial Services Commission.

With the Lunar New Year holiday approaching this weekend, Hong Nam-ki said, "Since it is one week before Seollal and the price trends of crude oil and other raw materials are unfavorable, please devote all efforts to price management," and instructed, "Focus on on-site inspections and responses to this week's Seollal livelihood measures, including shipment trends, price trends, and expanded releases of the 16 major Seollal seasonal products."

Regarding the supplementary budget bill submitted to the National Assembly on the same day, he said, "To alleviate the difficulties of small business owners even a little, ensure the swift execution of the first-quarter small business support budget and thoroughly prepare for the National Assembly discussions on the supplementary budget bill (maintaining the government proposal) and pre-execution."

Concerning the Serious Accident Punishment Act, which is set to be implemented for the first time on the 27th, Hong Nam-ki said, "Strengthen the role of safety consulting by utilizing the public institution safety management grading evaluation system to comprehensively diagnose and improve the safety management capabilities of public institutions," and added, "Make efforts to remove uncertainties as much as possible through government guidelines or directives to facilitate the institutional settlement, addressing some issues raised by the business community."