Gov’t to Consider Additional Economic Stimulus Measures if Necessary: Acting President

Acting President Choi Sang-mok is seen during a meeting with ministers responsible for economic affairs at the government complex building in Seoul on Jan. 2, 2025. (Image courtesy of Yonhap) SEOUL, Jan.

2 (Korea Bizwire) — Acting President Choi Sang-mok said Thursday the government will consider implementing additional measures to stimulate the economy in the first quarter, if necessary, amid projections of slow growth for the year. “Considering significant domestic and international uncertainties, (the government) will reassess overall economic conditions during the first quarter, including the policy trajectory of the new U.S.



administration and the state of the domestic economy, and if necessary, will devise additional measures to bolster economic stability,” Choi said. He made the remarks during a meeting with ministers responsible for economic affairs, following the government’s announcement that the economy is projected to grow by 1.8 percent this year, lower than earlier estimates.

The government has emphasized its primary focus for the year will be on managing risks rather than launching a wide range of new policy initiatives. “Above all, we will dedicate our full efforts to the recovery of people’s livelihoods,” added Choi, who also serves as deputy prime minister for economic affairs and finance minister. (Yonhap).