President Lee Jae-myung on the 14th set "3-4-5" (potential growth rate of 3%, top four in global trade, per capita income of $50,000) as this year's economic growth vision and said, "We must join forces so this year can be remembered as the first year of Korea's leap into an irreplaceable nation." He also said the government would put weight on responding to high inflation and stabilizing real estate and make an all-out effort.
Lee said this in the morning at Cheong Wa Dae while presiding over a Cabinet meeting, noting, "What results we produce in the second half will determine the next 30 years of Korea's future." He also said, "The global industrial reshuffle triggered by the artificial intelligence (AI) revolution is opening a new arena of opportunity for us," and, "We should accelerate the great economic transition and further widen the path toward an irreplaceable Korea."
In particular, regarding the "three mega projects," in which major corporations such as Samsung Electronics and SK Group will invest a total of 4,700 trillion won in advanced industries, Lee said, "To realize the projects early, the central government, local governments, and corporations must work as one and run hard," and, "Please proceed with the related procedures as quickly as possible, with the mindset that shortening one day now can save ten days or 100 days later." The intention is to speed up investment projects by minimizing administrative procedures during the construction of a semiconductor cluster, AI data centers, and more.
Lee said, "We must make an all-out effort to stabilize prices and real estate, which are directly tied to people's lives, and, by fostering ultra-gap and ultra-innovation growth engines, raise the potential growth rate step by step to 3%," adding that the government must also focus on resolving "structural problems." Lee said, "We will provide multifaceted growth ladders for youth—the future of the community—in jobs, housing, and asset capacity building, and, along with narrowing labor market gaps, we must also pick up the pace of innovation in public institutions, fiscal policy, and regulation."