South Korean Government Major Policy Directions

The following are the South Korean government major policy directions for next year along with its forecasts for annual growth, investment, consumption, exports and other figures unveiled Tuesday under its annual economic management plan.
The projections are based on the premise that the world economy will expand 4.2 percent next year as suggested by the International Monetary Fund, with oil prices expected to stay at an average of US$ 85 per barrel.
The government will focus its policy directions mostly on — stabilizing macroeconomic conditions, improving the overall economic fundamentals and strengthening efforts to prevent external shocks from shaking the nation’s economy.
— improving quality of life for working-class people by creating jobs and seeking coexistence in society.
— nurturing more domestic demand and finding new growth engines especially in the service and green industries as part of efforts to reduce heavy dependence on trade for growth.
— intensifying efforts to enhance the nation’s profile in the international community and expanding global economic cooperation by signing free trade deals. (PNA/Yonhap)

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