Seoul:Finance Minister Lee Hyoung-il committed to addressing inflation and promoting economic growth through significant government initiatives. During a parliamentary audit by the finance, economy, planning, and budget committee at the National Assembly, Lee emphasized his focus on improving livelihoods and reducing economic disparities.
According to Yonhap News Agency, this was Lee's first parliamentary audit session since assuming office last month. He stressed the importance of maintaining consumer price stability, particularly for essential goods like fuel and food, and vowed to combat irregular market activities that drive up prices.
Lee outlined the finance ministry's priorities, which include enhancing housing, employment, and financial services for low-income households. The government plans to increase the public housing supply to create a market centered on residential needs rather than speculation.
Further, Lee highlighted the government's commitment to three major projects focusing on semiconductor and artificial intelligence development. These efforts aim to improve the business environment and bolster growth potential.
Addressing South Korea's international commitments, Lee noted that the government will evaluate the commercial viability and strategic interests of its investment agreements, such as those with the United States for reduced tariffs on Korean goods. Additionally, South Korea will work to mitigate global uncertainties, including those from the Middle East conflict and global monetary policies.
Lee reiterated the government's roadmap to transition the Korean won into a freely convertible currency and expressed intentions to lower barriers for foreign investment in the securities market.