Deputy Prime Minister and Minister of Strategy and Finance Hong Nam-ki forecasted that domestic demand and employment in the Korean will gradually improve.
He also warned about the rapidly growing national debt.
Deputy Prime Minister Hong made the remarks when he met Alastair Wilson, Global Head of Moody's, on video on the 30th, the Ministry of Economy and Finance said on the 31st.
Deputy Prime Minister Hong predicted that while the Korean economy is showing a clear recovery trend led by exports and investment this year, domestic demand and employment will improve.
"In the case of domestic demand, consumption is above the pre-Covid-19 outbreak, and consumer sentiment has also turn positive in the past 14 months" he stressed.
Employment rate will increase as the rate of unemployed is trending down. Deputy PM Hong expected that the recovery in employment will become more evident in March.
As for future fiscal management measures, the government said it plans to maintain active fiscal management this year with a focus on overcoming crises and recovering the economy.
Reporter Lee Ji-sun stockmk2020@gmail.com
