Choe Sang-mok, Deputy Prime Minister for Economy, "Unprecedented Budget Execution Speed, Maximizing Policy Effectiveness"

Choi Sang-mok, Deputy Prime Minister for Economic Affairs and Minister of Economy and Finance, said on the 23rd, "We will maximize policy effects through an unprecedented speed and scale of budget execution speed battle."

On the same day, Deputy Prime Minister Choi made this remark while presiding over the Economic Ministers' Meeting and the Industrial Competitiveness Enhancement Ministers' Meeting at the Government Seoul Office in Jongno-gu, Seoul.

Choi Sang-mok, Deputy Prime Minister for Economic Affairs and Minister of Economy and Finance, is speaking at the Economic Ministers' Meeting and the Industrial Competitiveness Enhancement Ministers' Meeting held at the Government Seoul Office in Jongno-gu, Seoul, on the 23rd. Photo by Yonhap News

Deputy Prime Minister Choi explained, "We will implement allocations as much as possible before the start of the fiscal year and actively relax execution regulations so that next year's budget is delivered to the people in need from the first day of the new year," adding, "Along with the government budget, we will also mobilize all available resources in the public sector, including public institution investments and policy finance."

Deputy Prime Minister Choi said, "Recently, our economy has faced slow domestic demand recovery and increased concerns over economic sentiment due to expanding domestic and external uncertainties, which could exacerbate difficulties in people's livelihoods," and added, "We will make the recovery of people's livelihoods the top priority of next year's economic policy direction and devote all government capabilities to this."

He continued, "Through policy prescriptions for domestic sectors such as consumption, tourism, and construction, we will revitalize small business owners, workers, and local economies," and mentioned, "We will provide tailored support to groups such as youth, middle-aged and elderly, small business owners, and vulnerable workers who need it most, and reduce the burden of essential living costs such as food and housing." He pledged to announce specific measures early next week as the 2025 Economic Policy Direction.

He said, "We will infuse warmth into policies so that it spreads to every corner of our society," and added, "The entire economic team will work diligently with a spirit of perseverance so that policies can be immediately felt on the ground."

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