The outline of specific measures for "true growth" is expected to be revealed, including a shift to a "real growth" system and balanced growth in local areas. The Ministry of Strategy and Finance will also make these more concrete after announcing the national policy agenda.
Deputy Prime Minister and Minister of Strategy and Finance Koo Yoon-cheol also emphasized "true growth" to promote AI in various fields, strengthen education, and improve corporate vitality.
The National Planning Committee will hold a "National Reporting Meeting" on the 13th to announce major national policy issues.
The meeting will be attended by members of the National Planning Committee and the heads of relevant ministries and agencies, who will explain their respective ministry plans for each national policy issue.
The most important national policy issue is expected to be "real growth." In order to raise the potential growth rate of the Korean economy, which has fallen to the 0% range, the government has been promoting the "chase economy."
This issue arose from the awareness that the policy paradigm that has relied on the US should be changed. Now that urgent issues have been resolved through the second supplementary budget and an agreement has been reached on tariff negotiations with the US, the time has come to fundamentally change the policy paradigm.
It is time for a long-term solution. For this reason, the Ministry of Strategy and Finance is promoting an AI innovation plan to integrate AI into all industrial fields. In particular, after the announcement of the national policy agenda, the Ministry of Strategy and Finance is planning to hold an "Economics" meeting in the middle or late of this month.
The government plans to announce a "Growth Strategy," which will consider integrating AI into various industrial sectors, providing customized AI education for the entire nation, and implementing AI innovation starting with the public administration sector.
The next task that the National Planning Committee will set after "true growth" is to achieve the KOSPI index of 5,000, which President Lee has emphasized since the presidential election.
The Korean government has announced that the Korean stock market will be included in the Morgan Stanley Capital International (MSCI) developed country index within this year.
Since last year, efforts have been made to improve the environment for foreign investors, but the country has not yet succeeded in being included in the developed country index, so it is not planning to launch a large-scale foreign investment program.
There is a possibility that the foreign exchange and capital markets will be restructured. To achieve this, measures to lower stock prices, such as simply increasing dividends, will be necessary, as well as improvements to the corporate governance structure, which has been singled out as the cause of the "Korea Discount."
Deputy Prime Minister Koo recently attended a question-and-answer session in the National Assembly, where he expressed his support for the purpose of the Commercial Code amendment bill and mentioned the need for long-term improvements to the corporate governance structure, so the issues surrounding this were also discussed.
On the other hand, government reorganization plans, such as the splitting up of the Ministry of Planning and Finance, which was initiated in response to concerns that excessive authority in the Ministry of Planning and Finance, such as budget formulation and execution, has been concentrated in the Ministry, are also becoming a national policy issue.
Until now, the budget function has been separated from the Ministry of Strategy and Finance to establish the Ministry of Planning and Budget, and long-term finances that are commensurate with the budget have not been invested, as was the case during the Roh Moo-hyun administration.
The most likely proposal is to transfer the function of formulating mid- to long-term policies to the new ministry. If the budget and long-term planning are separated, the Ministry of Finance and Economy, which is responsible for taxation, policy, international finance, etc., will remain.
A government official said, "The best time to push ahead with the announcement of the new growth policy as well as the reorganization of the government is early in the administration's term," predicting that discussions could begin in the Diet as early as September.
Meanwhile, experts are calling for a growth strategy as the reduction in the top corporate tax rate will have a major impact on exports to the US in the future.
Professor Hong Ki-young of the Department of Business Administration said, "There are already growing concerns about corporate tax, and exports are expected to decline," adding, "In order to promote corporate growth,
"We are in a situation where we need a proposal like this," he said.
2025/08/11 07:15 KST
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