Presidential Office: "Economic Sentiment Still Difficult... Accelerating Efforts for Four Major Reform Achievements"

Attendance at the National Assembly Steering Committee Audit
"Devoted to Advancing the Four Major Reform Tasks"
"Global Crisis... Importance of Legislative Support"

Jung Jin-seok, Chief Secretary, is reporting on duties at the National Assembly's Steering Committee's audit of the Presidential Secretariat, National Security Office, and Presidential Security Service held on the 1st in Yeouido, Seoul.
[Image source=Yonhap News]

Jung Jin-seok, Chief of Staff at the Presidential Office, said on the 1st, "It is deeply regrettable that government efforts have not fully permeated the daily lives of the people and that the perceived economy remains difficult," adding, "We will carefully ensure that measures to stimulate domestic demand function properly on the ground."

Jung attended the National Assembly's Steering Committee audit session that morning and stated, "The Yoon Seok-yeol administration is fully committed to real changes in the lives of the people through reforms, focusing solely on the citizens."

He emphasized, "The government has so far prioritized the livelihood of the people as the top principle in state affairs and has been steadily implementing 120 national tasks. We are dedicating ourselves to advancing the four major reform agendas for the next 100 years of the Republic of Korea."

He continued, "With the restoration of a private-led market economy, exports have increased, achieving the highest employment rate and lowest unemployment rate in history. Through sound fiscal management for future generations, we are preparing for future investments and maintaining solid external trust."

He explained, "Recently, Korea's inclusion in global bond indices was announced, reflecting high evaluations of the Korean economy in global financial markets. We have laid the foundation for restoring economic dynamism by fully restoring the real estate market and nuclear power ecosystem, designating national advanced industrial complexes, and providing tailored support throughout the entire cycle for small business owners."

Jung said, "Even under a sound fiscal policy, we have raised the standard median income and livelihood benefits to the highest levels ever under previous governments to support the vulnerable, and we are making all-out government efforts to reverse the declining birthrate trend."

He particularly stated, "We will continue to reduce the financial burden on low- and middle-income households, expand opportunities for asset formation, and strengthen support for the youth, who are the future leaders. We will restore economic dynamism through securing cutting-edge technologies in key industries and regulatory innovation, and establish fundamental solutions to regional extinction to realize a local era where it is good to live anywhere."

However, Jung acknowledged that the perceived economy remains difficult, saying, "We will expand policy financial support for vulnerable groups, reduce cost burdens such as delivery fees for small business owners, and ensure that measures to stimulate domestic demand, such as early shipment and release of stockpiled agricultural, livestock, and fishery products, function properly."

Regarding security, he said, "Uncertainties in external conditions continue due to North Korea's nuclear missiles, the Ukraine war, and the prolonged Middle East crisis. In particular, North Korea's deployment of troops to the Ukraine war poses a serious threat to the international community and our security."

Jung added, "Unprecedented global complex crises such as technological hegemony competition, climate change crises, and supply chain restructuring are sweeping the world, making thorough preparation and legislative support for stabilizing the people's livelihood more important than ever."