Deputy Prime Minister and Minister of Economy and Finance Koo Yoon-cheol emphasized the need for thorough follow-up actions to ensure that recently announced policies, including tax reform and livelihood measures, lead to tangible results.
On September 7, Koo held an expanded executive meeting at the Government Sejong Center with key officials, including the Vice Minister of Economy and Finance and department heads, to review the progress of major policies and future directions.
Koo first commended the staff for their hard work in preparing key initiatives such as the summer tax reform plan, Chuseok livelihood measures, support for vulnerable borrowers and youth employment, the overhaul of the national contracting system, the G20 finance ministers' meeting, and reforms in public institutions.
He urged that follow-up actions, including legislative amendments, detailed system designs, and consultations with relevant agencies, be implemented rigorously to ensure that the recently announced policies translate into real outcomes.
With the regular National Assembly session underway, Koo also called for thorough preparations for legislative responses. He stressed the importance of being well-prepared for the review of relevant bills and proactively addressing key issues related to major policies during the national audit.
Regarding the current economic situation, Koo noted that while improvements are being observed, disparities exist across different sectors, and he cautioned against complacency.
He particularly highlighted the need to closely monitor areas directly affecting people's livelihoods, such as inflation and employment, and to respond promptly if necessary.
During the meeting, awards were also presented for outstanding public officials in proactive administration and the '3rd Team Happiness Awards' along with the August Best Small Happiness Awards.
The Team Happiness Awards recognized five departments, including the Comprehensive Policy Division, Tax Reform Promotion Team, Contract Policy Division, Development Strategy Division, and Digital Communication Team.
The Comprehensive Policy Division established the '2026 Second Half Economic Growth Strategy,' aiming for a potential growth rate of 3%, a top-four export ranking, and a national income of $50,000, encapsulated in the '3-4-5 Vision.' The Tax Reform Promotion Team incorporated efforts to rationalize real estate taxation and enhance tax equity into the '2026 Tax Reform Plan.'
The Contract Policy Division developed measures to reform the public construction bidding system and prevent paper company bids. The Development Strategy Division proposed institutional improvements to enhance the transparency and fairness of the Economic Cooperation Fund and developed strategies for the 'K-AI Package.' The Digital Communication Team produced content highlighting key achievements of the citizen-led government in its first year, achieving 1 million views in a short period.
In August, the Best Small Happiness Award was given to Park Gi-hak, an official in the Industrial Economy Division, for his contributions to developing support measures reflecting on-site demands to alleviate management difficulties faced by small and medium-sized enterprises due to high exchange rates.
Koo also urged that the 32 new youth interns starting their work today receive attention and support from each department to gain practical job experience.
Furthermore, he stressed that regardless of the recent cabinet reshuffle, the policies and issues handled by the Ministry of Economy and Finance must proceed without disruption. Koo stated, 'I will also fulfill my responsibilities, and I hope you will continue to perform your roles diligently as you always have.'
* This article has been translated by AI.
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