Choi Sang-mok Announces Article 18 Economic Reinforcement Package "Further Reinforcement in Q1"

[Anchor]
The government cut the nation's economic growth rate by 0.4 percentage point to 1.8 percent this year on internal and external variables.

Overseas investment banks' forecasts have already fallen to the mid-1% level.

In announcing the Article 18 economic reinforcement package, Acting President Choi Sang-mok said he would look at the situation in the first quarter and consider further reinforcement measures.

Let's listen to it.

[Choi Sang-mok / Acting President and Deputy Prime Minister and Minister of Strategy and Finance: Implement an economic reinforcement package worth 18 trillion won by mobilizing all public resources, and promote an unprecedented scale and speed 'expedited support for people' project. From the beginning of the new year, each and every citizen will actually enjoy the benefits of public welfare support, such as jobs for the elderly and youth employment incentives. We will actively support the recovery of domestic demand such as consumption, construction, and local economy. In particular, we will do our best to recover consumer sentiment by expanding the income deduction for additional consumption in the first half of the year and lowering the opening tax on automobiles. We will re-examine the overall economic conditions, such as the development of the new U.S. government policy and the economic situation of people's livelihoods, in the first quarter and devise additional economic reinforcement measures if necessary.]