Presidential Office Forms Livelihood Price TF and National Strategic Industry TF... "Activating National Support System"

Sung Tae-yoon, Chief of Policy Office at the Presidential Office, is briefing on economic issues including the first quarter real Gross Domestic Product (GDP) growth rate at the Presidential Office building in Yongsan, Seoul on the 25th. [Image source=Yonhap News]

The Presidential Office has decided to form the 'Minsheng Price Task Force' (TF) and the 'National Strategic Industry' TF to stabilize living costs and promote the growth of key industries.

On the afternoon of the 2nd, Policy Chief Sung Tae-yoon held a briefing at the Yongsan Presidential Office and stated, "For recent economic achievements, the livelihood economy, and industrial structural growth to continue, it is important to have a national strategic and comprehensive approach that strengthens cooperation not only among economic ministries but also social ministries, science and technology ministries, the Ministry of the Interior and Safety, and local governments."

Through this TF, the Presidential Office plans to operate a national support system that organically involves multiple ministries beyond just some economic departments, fully supporting the stabilization of living costs and the growth of core industries.

Chief Sung explained, "The Minsheng Price TF will discuss price response measures focusing on key items with large price fluctuations, high public sensitivity, or significant impact on overall prices," adding, "The approach is not at the individual price level but aims to establish structural price stabilization measures including distribution, supply structure, and the transmission paths of overseas factors."

He also said, "Our country's major strategic industries such as semiconductors, automobiles, and shipbuilding are driving the overall export growth," and pledged to strengthen support for these three industries. He emphasized, "The semiconductor industry is described as a 'war without gunfire' due to fierce competition for dominance," and added, "We will narrow the gap with leading companies in the system semiconductor sector, which is the core of the semiconductor industry."