Prime Minister Han Duck-soo has called on every ministry to help revitalize the economy ahead of a difficult year.

Leading a ministerial meeting on state affairs on Thursday, Han warned that the economic situation next year looks grim, with low global growth expected to hurt exports and investments domestically.

He asked the finance ministry and the Korea Development Institute to thoroughly analyze risk factors and prepare response measures.

He also said he planned to drastically improve regulations to help foreign companies that have invested in Korea and those in the environment sector.

The prime minister requested all ministries to closely monitor the effectiveness of these measures and determine whether additional changes are needed.