Koo made this announcement during a Cabinet meeting and an emergency economic headquarters meeting held at the Government Seoul Complex. He emphasized that stabilizing prices is the government's top priority and outlined plans for financial and tax support to achieve this goal.
Despite previous agreements between the United States and Iran, the South Korean economy is expected to continue feeling the effects in the near term. Koo revealed plans to implement measures such as discount support and lowering delivery prices, along with emergency tariff allocations in the second half of the year.
Additionally, the ongoing conflict in the Middle East is impacting the job market, prompting the government to consider employment retention support measures. Koo noted, "We will designate special employment support sectors in areas facing employment crises and push for employment retention support funds," adding that efforts to expedite youth New Deal policies, such as the K-New Deal Academy, will be prioritized.
He also addressed support for vulnerable groups, stating, "We will develop support measures for companies affected by high oil prices and work to alleviate the cost burden on low-income households," and pledged to coordinate with relevant ministries to manage price increases for processed foods.
Finally, Koo assured that key indicators related to the public's livelihood, including prices, employment, exchange rates, and interest rates, will be meticulously managed.
* This article has been translated by AI.
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