[On-site video+] The ruling party, the people's livelihood, the Economic Council... "We will only look at the people's livelihoods."

[Anchor]
The People's Power and the government will hold a party-government consultative meeting to check the economy of people's livelihoods at the National Assembly.

It is expected that discussions will take place on the overall public welfare, including financial policies for the common people, measures to support small and medium-sized enterprises and small business owners, and protection of minority shareholders.

Let's go to the scene.

[HAN DONG HUN / Representative of the People's Power]
The IMF lowered Korea's economic growth rate to 2.6% next year, and the results of the 2024 System Survey released by the Bank of Korea also showed that the biggest risk to the Korean financial system was changes in external conditions such as household debt and the U.S. presidential election. This is a professional view, but it is also a reality that the people are experiencing. The uncertainty is growing. In the face of that uncertainty, the party and the government will make a plan to reassure the people and improve the situation through concrete and effective discussions on the economy of people's livelihoods.

This is because the people expect the government and the ruling party to come up with measures that the people can feel safe about. We will also prepare effective measures to reduce the burden on small business owners and self-employed people. It is an area where the people's power and the government continue to manage measures to respond to recent changes in the international situation and financial markets and support small business owners and self-employed people as a top priority. Today, through the ruling party and the government, we will check the current state of the economy and people's livelihoods first to minimize uncertainty and reduce people's anxiety.

We will also take care of the financial safety net for the vulnerable. We will check and implement specific measures that can lower costs that feel a greater burden on the vulnerable. In addition, I would like to say that the government and the government will calmly examine the issues of working hours, such as extending the retirement age, which have been mainly discussed by our special committee on resolving the gap recently. I would like to say that all of us gathered here will work together to ensure that the best results can be achieved while looking only at the people as much as the people's livelihood. Thank you.

[Hoster]
Next, we will listen to Prime Minister Han Deok-soo.

[Han Deok-soo / Prime Minister]
How are you? Since its inception, the Yoon Suk Yeol government has been working hard to overcome the national crisis and address the challenges of people's livelihoods in the face of global complex crises such as high prices and high interest rates due to geopolitical problems, global over-liquidity supply, and global supply chain disruptions. Thank you to the people and companies for working together to overcome the unprecedented complex crisis over the past two and a half years.

The government feels very sorry for the difficulties the vulnerable are experiencing as these efforts have put the economy past a dangerous crisis point, but people are still struggling to live and domestic demand has not fully recovered. Prices, which soared to 6.3% at the time of the government's inauguration, fell to 1.3% in October, and prices of kimchi vegetables such as cabbages stabilized rapidly to normal levels.

Exports have continued to flow positively for 13 months, mainly in semiconductors and automobiles, and the trade balance has also been in the black for 17 months. The current account surplus is expected to exceed $70 billion, nearly doubling this year from $25.8 billion in 2022 and $35.5 billion in 23. I was 15 last year.Employment indicators are also in good shape, with the average employment rate of 64 years old hitting an all-time high of 69.2%. The annual growth rate also remains third after the United States and Spain, while the average of major developed countries to which South Korea belongs is 1.8%. The government will focus on increasing growth potential and adding to the difficulties of people's livelihoods through necessary reforms.