President Yoon Suk Yeol has reaffirmed his commitment to three major reforms for the nation's labor, education and pension systems.

In his New Year's address broadcast live from the top office on Monday, Yoon said the government will fully guarantee labor movements abiding by the law, but strictly deal with any illegal activities by labor or management, stressing that a flexible labor market increases corporate investment and creates more jobs.

Regarding the critically low birth rates, Yoon pointed out unnecessary and excessive competition as the main cause and presented the balanced regional development policy as a solution.

Yoon also reaffirmed his commitment to eliminating what he calls “cartels”, which refer to corruption and irregularities among those with vested interests.

As for the real estate problems closely linked to people’s livelihoods, he pledged to increase housing supply in cities and expand the supply of small homes.

The president said that his government will listen to even the smallest voices of the people and pursue policies that actually change people's lives.