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Gist of new government's economic policy direction

Finance 14:00 June 16, 2022

SEOUL, June 16 (Yonhap) -- The following are the key economic policy goals under the government of President Yoon Suk-yeol. The economic policy road map centers on deregulation and tax cuts in a bid to support the economic growth led by the private sector.

Revitalizing economic growth led by private sector

-- to ease regulations, boost corporate vitality

-- to expand corporate investment, create jobs

-- to nurture small and venture firms

-- to establish fair market principles

Upgrading economic fundamentals via structural reform

-- to revamp public sector, state pension fund

-- to reform labor market

-- to carry out education reform

-- to seek innovation in the financial and service industries

Laying groundwork for 'pace-setting' economy

-- to seek innovation with science technology, research & development

-- to foster cutting-edge strategic industries

-- to tackle changes in demographic structure

-- to achieve goal of carbon neutrality, fight climate change

Promoting shared values

-- to strengthen social safety net

-- to expand window of opportunities for work

-- to upgrade welfare system

-- to promote balanced regional development

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