Prime Minister Kim Min-seok said in opening remarks at a high-level ruling party-government consultation on the 21st that it is an unavoidable situation to restructure the petrochemical and steel sectors. He added that the government will support corporations' innovation while also focusing on protecting workers and easing the shock to regional economies.
At 4 p.m. the presidential office, the government, and the Democratic Party of Korea held a high-level ruling party-government consultation. The presidential office and the party-government discussed follow-up measures after restructuring in the petrochemical and steel sectors. They also reviewed trends in the real estate market and checked the progress of the special law for renewable energy self-reliant cities and the creation of RE100 (100% renewable energy use) industrial complexes.
Jung Chung-rae, leader of the Democratic Party, said in opening remarks that swift and bold restructuring is necessary to ensure the sustainability of industries such as petrochemicals and steel. He went on to say that measures to protect regions and workers are also important so that it does not lead to job losses or a contraction of regional economies.
Regarding the real estate market situation on the agenda, Prime Minister Kim said, We will closely examine current market conditions and jointly seek feasible real estate market stabilization measures tailored to local characteristics.
Jung also said, We will closely monitor the situation in the dwellings market, which shows signs of some calming, and prepare necessary measures in a timely manner, adding, The party and government will put their heads together to devise ways to substantively support housing stability for ordinary people.