Kim Beom-seok, 1st Vice Minister of Economy and Finance, "Mobilize all available means to restore people's livelihood"

Livelihood Economy Inspection TF Meeting Held on the 6th

Kim Beom-seok, First Vice Minister of the Ministry of Economy and Finance, urged, "Through the weekly Livelihood Economy Inspection Meetings (chaired by the Acting Prime Minister and Deputy Prime Minister), each ministry should mobilize all available means such as revising enforcement ordinances and rules, temporarily easing regulations, and expanding policy financing to swiftly prepare and implement livelihood improvement measures by sector."

On the 6th, Vice Minister Kim held a Livelihood Economy Inspection Task Force (TF) meeting at the Government Seoul Office and made these remarks. The Livelihood Economy Inspection TF plans to operate by expanding and reorganizing the existing Economic and Financial Situation Inspection TF, placing emphasis on preparing cross-ministerial livelihood economy improvement plans in addition to inspecting the real economy and financial market conditions. At this meeting, the current status and difficulties in key livelihood and economic sectors such as prices, jobs, housing, and low-income finance were shared and improvement measures were discussed, while future plans for the Livelihood Economy Inspection Meetings and necessary actions were reviewed.

Vice Minister Kim pointed out, "Recently, our economy faces external uncertainties such as mutual tariff impositions between the U.S. and China becoming a reality, and with economic sentiment weakening, downward pressure on the economy is increasing, raising concerns about worsening hardships for livelihoods," emphasizing, "Each ministry must promptly prepare related measures to recover the livelihood and economy."

He continued, "Since many livelihood difficulties in certain sectors or groups involve multiple ministries, related ministries should act as a ‘one team’ to jointly seek solutions," urging. He also stated that through the weekly Livelihood Economy Inspection TF meetings, they plan to review and coordinate the sector-specific livelihood and economic improvement measures to be announced at the Livelihood Economy Inspection Meetings.