On the 2nd, economic organizations welcomed the government's announcement of the '2025 Economic Policy Direction,' saying it will help stabilize the economy and enhance economic vitality amid increasing domestic and external uncertainties.
In a comment from Kang Seok-gu, head of the research department at the Korea Chamber of Commerce and Industry, it was noted that 'the role of timely and sufficient fiscal policy to support vulnerable populations and stabilize livelihoods is important in a situation where the economic cycle is declining,' adding that 'it is appropriate to identify the necessity of institutional innovation and strengthening communication with the international community as urgent issues for managing external credibility.'
The Korea Chamber of Commerce and Industry stated that 'the commitment to actively invest for the future even in difficult times through the dynamic economy roadmap is a noteworthy point,' and emphasized the need to continually establish a foundation for nurturing new industries such as artificial intelligence (AI), biotechnology, and quantum computing while strengthening the competitiveness of core industries.
Lee Sang-ho, head of the economic and industrial division at the Korea Economic Association, commented that 'in a situation where management uncertainties are increasing due to stronger protectionism and political turmoil, the government's commitment to maintaining economic stability and solidifying external trust is reflected in the policy.'
The Korea Economic Association continued, saying, 'Stabilizing the financial and foreign exchange markets, advancing the capital market, and promoting foreign investment measures will likely help maintain our economy's external credibility,' and expressed a hope that 'the enactment of the Semiconductor Special Act, infrastructure support, and the rapid establishment of a trade response system in major industries such as automobiles, secondary batteries, and shipbuilding will allow corporations to pursue exports and investments without disruption.'
The Korea Enterprises Federation (KEF) stated that 'it assesses that this will help stabilize the livelihoods of the population and boost economic vitality amid recent domestic sluggishness and political instability,' adding that measures such as raising the tax credit rate for semiconductor companies' facility investments and introducing temporary tax credits for small and medium-sized enterprises are expected to serve as a catalyst for expanding investment across industries.
In a comment from Jung Hee-cheol, head of the trade promotion division at the Korea International Trade Association, it was stated that 'expanding the scale of policy financing to support exports and investments, strengthening stable management of the financial and foreign exchange markets, and proactive and systematic responses to changes in the external trade environment will positively impact improving the export slowdown.'
The Korea International Trade Association added that 'amid heightened uncertainties in the global economy following the inauguration of a new U.S. administration, we hope the government will thoroughly implement economic policies,' and requested that 'the National Assembly actively collaborate based on the principle of no division between the ruling and opposition parties regarding economic issues.'
On the same day, the government unveiled the new year's economic policy blueprint, '2025 Economic Policy Direction,' focusing on recovery of livelihoods and managing external credibility. This includes measures for improving the long-term domestic sluggishness, alleviating the cost burden on the underprivileged, and supporting recovery in the livelihoods sector, as well as plans for recovering foreign investment sentiment, responding to trade environments, and enhancing industrial competitiveness.