President Yoon Suk Yeol called for measures to mitigate the economic impact of the prolonged COVID-19 pandemic, global supply chain disruptions, inflation and increasing global financial market volatility.

Yoon made the call during a meeting with economic experts and government officials on Friday, citing the rapid economic changes both at home and abroad.

He reiterated the need for a preemptive response, saying the public continues to face economic challenges despite the government drawing up a second extra budget to support pandemic-hit businesses and stabilize rising consumer prices.

The president then urged participants to accurately diagnose issues and to seek solutions out in the field, rather than from their desks.

He said it is the government's duty to consider the impact of a policy on the market, as well as its effect on the sentiment and decision-making of economic entities.