Choi Sang-mok said, "The 3rd investment plan next month...Step-by-step promotion of oil tax normalization"

[Anchor]
Deputy Prime Minister for Economy Choi Sang-mok said he will come up with a third round of investment revitalization measures next month to boost the domestic economy.

Regarding the oil tax cut measures, it said that it is in the process of pushing for normalization in stages, but that it will comprehensively judge the household burden.

Lee Seung-eun reports.


[Reporter]
Fifteen percent of our country's carbon emissions come from steel.

This is because when fossil fuels react with iron ore, carbon dioxide is generated.

Hydrogen reduction steel is an innovative technology that uses hydrogen instead of fossil fuels and thus has no carbon emissions.

POSCO is planning to build a hydrogen reduction steel mill by reclaiming the sea near Pohang Steelworks.

By 2050, we plan to invest 20 trillion won in Pohang and 20 trillion won in Gwangyang to realize carbon neutrality.

The start of construction has been moved to June next year.

[Jeong Ki-seop / POSCO Holdings CEO: The site creation, which is the basis for the 40 trillion won hydrogen reduction steel investment, was also shortened by more than 11 months thanks to close support from the government]

Deputy Prime Minister for Economic Affairs Choi Sang-mok said it is time for quick and active investment to revive the economy and secure growth engines, and said he would announce a third round of investment-boosting measures next month.

[Choi Sang-mok / Deputy Prime Minister and Minister of Strategy and Finance: We will strengthen tax support, including raising the deduction rate for investment growth and extending the application period of national strategic technology, and provide 25.2 billion won in 2025 for infrastructure of secondary battery-specific complexes.]

It said it is also considering issuing green government bonds.

Green government bonds are government bonds that are limited to the use of procurement funds for eco-friendly investment projects.

Regarding the oil tax cut, which ends at the end of this month, he said he would conclude whether to extend it comprehensively, taking into account domestic and foreign oil prices and household burdens.

However, most countries have restored the situation, leaving open the possibility of ending the oil tax cut.

[Choi Sang-mok / Deputy Prime Minister and Minister of Strategy and Finance: In a broad sense, normalization should be achieved, but the basic policy is that we are pushing ahead with it in stages considering the burden on the people. Then, we will come to a comprehensive conclusion on what to do from November and let you know.]

Although there is a prospect of oil tax reduction due to a tax deficit of nearly 30 trillion won, the possibility of a sudden change in the Middle East situation and protection of vulnerable people are the homework.

I'm YTN's Lee Seung Eun.

Reporter Kwon Seok-jae

Video editing Choi Yeon-ho