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Finance Minister Nominee Vows to Focus on Recovery, Curbing Prices

Written: 2023-12-05 15:33:56Updated: 2023-12-05 15:57:31

Finance Minister Nominee Vows to Focus on Recovery, Curbing Prices

Photo : YONHAP News

Finance minister nominee Choi Sang-mok pledged to thoroughly manage potential risks while focusing on curbing prices and expanding recovery momentum stabilizing public livelihoods.

At a meeting with local reporters on Tuesday, the nominee, who would also serve as deputy prime minister, referred to the current economic situation as the "last cold snap" with a disparate pace of recovery across the economy as persistently high inflation and interest weighs on the public.

As for high inflation, the nominee expected that it will take some time for prices to stabilize, calling for efforts to lower expected upward pressure and push for structural reforms.

Choi vowed to work toward the establishment of a "dynamic economy" through development in the fields of science, technology and cutting-edge technologies, as well as a fundamental revamp.

As for the Yoon Suk Yeol administration's budget cut in research and development, the nominee said the time has come for the nation to seek quality-based growth to become a leader through the reorganization of the government's R&D funds.

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