Koo Yoon-chul: "Impact of Middle East Conflict on Employment and Prices Remains... Full Efforts to Ease Public Burden"

Emergency Economic Headquarters Meeting Held on the 19th

Deputy Prime Minister and Minister of Strategy and Finance Koo Yoon-chul emphasized on the 19th that "while external uncertainties are easing, such as the decline in international oil prices following the signing of the Middle East War ceasefire memorandum of understanding (MOU), the impact of the Middle East conflict is still ongoing, including slowing employment, rising prices, and fluctuations in exchange rates and interest rates. Therefore, the government will make every effort to reduce the burden on people's livelihoods."

Deputy Prime Minister and Minister of Strategy and Finance Kyu Yun-cheol is delivering opening remarks on the 19th at the 'Emergency Economic Headquarters Meeting, Economic Ministers’ Meeting, and Foreign Economic Ministers’ Meeting' held at the Government Seoul Office in Jongno-gu, Seoul. Ministry of Strategy and Finance

Deputy Prime Minister Koo made these remarks while presiding over the Emergency Economic Headquarters Meeting and Economic Ministers Meeting at the Government Complex Seoul this morning. He said, "Based on a thorough analysis of struggling industries such as manufacturing, construction, and agriculture and forestry, as well as vulnerable groups like the youth, we will sequentially prepare and announce sector-specific response measures, including the tentatively named 'Youth Employment Recovery Plan.' We will also swiftly implement the tasks outlined in the previously announced Youth New Deal Promotion Plan and actively pursue initiatives to strengthen job-seeking capabilities and connect them to employment through advanced education in fields such as agentic AI."

He further stressed the need to continue discovering and developing new service industries while also strengthening support for small and medium-sized enterprises and small business owners. Deputy Prime Minister Koo stated, "The government will accelerate the ultra-innovative economy and structural innovation to enhance competitiveness, so that the clouds that have hung over our economy since the end of the conflict can quickly clear."

At the meeting, participants discussed topics such as 'Review of Response Measures Related to the Middle East Conflict,' 'Recent Employment Situation by Sector and Response Directions,' 'Measures to Improve Everyday Services,' 'Demand-Oriented Marina Activation Plan,' and 'Establishment of a Sustainable Guarantee Support System.'

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