Vice Minister Koo Yoon-chul said, "We are concerned about the 1Q growth rate adjustment in Corona 19."
Vice Minister Koo Yoon-chul said, "We are concerned about the 1Q growth rate adjustment in Corona 19."
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  • 승인 2020.02.14 15:04
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This article is translated by AI company Flitto and Infostock Daily using neural machine translation technology.
Koo Yoon-chul, Vice Minister of Strategy and Finance
Koo Yoon-chul, Vice Minister of Economy and Finance:  Minister of Economy and Finance

[Infostock Daily= reporter Song Jeong-hoon] “There is a possibility that the growth rate will be adjusted in the first quarter of this year due to the new coronavirus infection (Korona 19),” said Koo Yoon-chul, the second vice minister of Economy and Finance.

“Since early this year, there have been signs of economic improvement in production, consumption, investment and economic sentiment,” Koo said at a meeting of the Public Institutional Investment Execution Review held at the Korea Trade Insurance Corporation. “But the Corona 19 incident is likely to be a risk of economic downwards,” he said.

“The base effect of the growth rate of more than 1% in the fourth quarter of last year is likely to lead to the adjustment of the first quarter of this year,” said former Vice Minister Koo.

“In order to respond to the situation with tensions in the impact of the economic ripple, it is necessary for the government to actively implement investment by public institutions as well as the government’s finances,” said the former vice minister.

This year, public institutions will focus on building new towns (such as Sejong and Welsh), supplying public housing, constructing railways (such as the West Sea), constructing highways (such as Seoul and Sejong), building transmission and distribution facilities, building power plants and reinforcing facilities.

Reporter Song Jeong-hoon boxr@infostock.co.kr


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