Anchor: President Yoon Suk Yeol has laid out his plans for the year 2024, pledging to continue structural reforms of labor, pension and education to revitalize the Korean economy facing a population decline. During his New Year's address, Yoon also promised to build peace through strength, sharing his plans to complete an enhanced South Korea-U.S. extended deterrence system by the first half of this year.
Kim Bum-soo has more on the president's speech. 
 
Report: In a nationally-televised New Year's address on Monday, President Yoon Suk Yeol said that his government will continue pushing for structural reforms in labor, pension and education.

Calling the year 2024 a turning point for South Korea, Yoon said that his reform drive is needed to save the nation struggling with a record-low fertility rate.

[Sound bite: President Yoon Suk Yeol (Korean-English)]
"Especially with the low birth rate continuing to reduce the nation's growth potential, we must boost the productivity of the nation overall by structural reforms in order to revitalize public livelihoods and ensure sustainable economic growth. We must not waver in pursuing the three structural reforms in labor, pension and education." 

To boost the nation's fertility rate which dropped to a record low zero-point-seven last year, the South Korean president called for reducing what he called the "unnecessary and excessive competition" in the nation, and promised finding effective solutions.

While reiterating that South Korea is building peace through strength, President Yoon also vowed to complete the U.S. and South Korea's joint operational capabilities for extended deterrence against North Korean nuclear threats by the first half of this year. 

[Sound bite: President Yoon Suk Yeol (Korean-English)]
"We are going to speed up the completion of the South Korean three-pronged defense system, and by the first half of this year, we will complete the South Korea-U.S. extended deterrence measures to fundamentally block North Korean nuclear missile threats."  

During his 20-minute speech, Yoon also stressed that his administration will work with the international community as a global pivotal state, using his foreign policy initiative aimed at expanding networks with like-minded nations to actively address the rapidly evolving security environment. 
Kim Bum-soo, KBS World Radio News.