Seoul: The finance ministry announced Wednesday that it has briefed President Lee Jae Myung on a strategic shift towards a “performance-based” fiscal management approach. This new plan aims to enhance investment efficiency and ensure fiscal sustainability by focusing on high-potential sectors.

According to Yonhap News Agency, the briefing was part of the third meeting of the emergency economic response task force, chaired by President Lee. The meeting included participation from presidential aides, relevant government agencies, and working-level officials, all gathered to discuss the government’s fiscal strategy.

The proposed plan emphasizes bold fiscal investments in areas that promise measurable outcomes, intending to boost investment returns and overall productivity. This strategy is expected to foster economic recovery and growth while maintaining fiscal soundness, thus creating a sustainable cycle of public finance.

Furthermore, the finance ministry highlighted its goal to increase accountability and performance metrics, while also granting more autonomy to individual ministries and local governments. This approach is designed to empower various governmental bodies to operate more effectively and efficiently.

Additionally, the ministry committed to motivating public institutions and state-funded research organizations to play a more active role in advancing national strategic agendas, ensuring their contributions align with the broader economic objectives.