President Lee Jae-myung convened a meeting of an emergency economy review task force on Wednesday after his inauguration earlier in the day.

Lee presided over the meeting from 7:30 to 9:50 p.m. at the presidential office in Yongsan, attended by officials from the finance, industry, land and SMEs ministries as well as state-run think tanks. 

Presidential spokesperson Kang Yu-jung said Lee was briefed on pending issues, including the ongoing trade negotiations with the United States, and discussed problems in the economy and possible countermeasures.

The spokesperson said Lee asked the participants detailed questions regarding the government’s fiscal capacity for a supplementary budget and the immediate economic stimulus effects it would generate. 

He also called for active measures to boost the economy and improve quality of life, as well as thorough risk management.

The president reportedly asked the participants to feel free to make suggestions at any time, regardless of their rank, if they had even small ideas or legislative requests.