Prime Minister Han Duck-soo has stressed that the government’s key goal for this year is to revive the real economy and people’s livelihoods, and urged all public officials to work toward that end.

Han made the call on Monday during a ceremony marking the start of the new year for the government, appealing for efforts by public officials to make 2023 a year in which South Korea makes new leaps.

The prime minister said this year is expected to continuously see difficult economic conditions brought about by the COVID-19 pandemic and the Russia-Ukraine war among other stressors, adding that the real economy is likely to be hit hard by monetary tightening policies aimed at easing inflationary pressure.

He said the government will aim to lessen the burden on the socially vulnerable, who are expected to suffer the most from inflation and high interest rates, while actively supporting small businesses in their resuscitation.

Han added that the government will stabilize the real estate market by smoothly pursuing supply measures and rationalizing regulations while also further boosting housing safety nets.

To enhance productivity and efficiency, Han said the government will boost structural reforms, including in the labor, education and pension systems as well as in the financial, service and public sectors.

The prime minister made particular mention of the government’s intent to realize labor reform by all means necessary, stressing that it is imperative to secure flexibility in the labor market and advance the culture of labor-management relations.

Source: KBS World Radio