Ministry of Economy and Finance: "388 Trillion Won Invested in Public Sector in First Half... 65% Rapid Execution in Jobs and SOC"

The government announced that it will inject 388 trillion won in fiscal funds into the public sector during the first half of the year, with a particular focus on expediting projects related to jobs and public welfare.

On the 18th, Kim Yoon-sang, the 2nd Vice Minister of the Ministry of Economy and Finance, held the 1st joint 'Fiscal Execution Inspection Meeting' with related ministries at the Government Seoul Office, stating, "Due to the slowdown in the construction industry this year and the prolonged effects of high interest rates and high inflation, it is difficult to feel a recovery in public welfare during the first half of the year. We plan to inject a total of 388 trillion won, including 350.4 trillion won in fiscal spending, 34.9 trillion won in public institution investments, and 2.7 trillion won in private investments."

He added, "In particular, we will swiftly execute more than 65% of projects worth approximately 110 trillion won in sectors closely related to public welfare, such as support for the vulnerable, jobs, and social overhead capital (SOC), during the first half of the year to alleviate the burdens on low-income and vulnerable groups and to revitalize the regional economy."

Going forward, the government plans to hold joint fiscal execution inspection meetings with related ministries weekly during the first quarter to continuously monitor the execution status.