Han Seung-soo, the Prime Minister of South Korea, stated on July 28 that the economic situation remains challenging due to ongoing uncertainties in the Middle East, new U.S. tariff measures, and worsening youth employment conditions.
During a Cabinet meeting at the Government Seoul Complex, he emphasized, "Despite the President being on an overseas trip, he has prioritized measures for people's livelihoods, such as the maximum oil price system and fuel tax reductions. Therefore, the Cabinet must remain vigilant and do its utmost to stabilize people's lives and promote economic growth."
According to a report released on July 23 by the Bank of Korea and the Ministry of SMEs and Startups, South Korea's real GDP grew by 3.7% in the second quarter compared to the same period last year, and small and medium-sized enterprises achieved a record export figure of $64 billion in the first half of this year. Han noted, "Both exports and domestic consumption have contributed to growth, and the increase in small and medium-sized enterprise exports is particularly significant," while also acknowledging the difficult external and internal circumstances.
Regarding the ongoing heatwave, he urged relevant ministries to conduct thorough inspections of vulnerable areas such as goshiwons (small rooms), workplaces, and construction sites.
He added, "Some regions are forecasted to approach temperatures of 40 degrees Celsius, making this week a critical turning point."
On the topic of President Lee Jae-myung's trip to the U.S. and South America, he expressed hope that South Korea would establish a global AI cooperation network, positioning itself as an indispensable supply chain hub in the global AI ecosystem.
He also stated, "Through close cooperation with resource-rich South American countries, we will expand the supply chain for essential resources such as key minerals and energy," and urged relevant ministries to ensure that the outcomes of the trip translate into tangible changes for the public and businesses.
In discussing suicide prevention measures, Han requested that policies be closely monitored to ensure they are effectively implemented and to identify any shortcomings that need to be addressed.
During a Cabinet meeting at the Government Seoul Complex, he emphasized, "Despite the President being on an overseas trip, he has prioritized measures for people's livelihoods, such as the maximum oil price system and fuel tax reductions. Therefore, the Cabinet must remain vigilant and do its utmost to stabilize people's lives and promote economic growth."
According to a report released on July 23 by the Bank of Korea and the Ministry of SMEs and Startups, South Korea's real GDP grew by 3.7% in the second quarter compared to the same period last year, and small and medium-sized enterprises achieved a record export figure of $64 billion in the first half of this year. Han noted, "Both exports and domestic consumption have contributed to growth, and the increase in small and medium-sized enterprise exports is particularly significant," while also acknowledging the difficult external and internal circumstances.
Regarding the ongoing heatwave, he urged relevant ministries to conduct thorough inspections of vulnerable areas such as goshiwons (small rooms), workplaces, and construction sites.
He added, "Some regions are forecasted to approach temperatures of 40 degrees Celsius, making this week a critical turning point."
On the topic of President Lee Jae-myung's trip to the U.S. and South America, he expressed hope that South Korea would establish a global AI cooperation network, positioning itself as an indispensable supply chain hub in the global AI ecosystem.
He also stated, "Through close cooperation with resource-rich South American countries, we will expand the supply chain for essential resources such as key minerals and energy," and urged relevant ministries to ensure that the outcomes of the trip translate into tangible changes for the public and businesses.
In discussing suicide prevention measures, Han requested that policies be closely monitored to ensure they are effectively implemented and to identify any shortcomings that need to be addressed.
* This article has been translated by AI.
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