Choi Sang-mok "Up to 358 trillion fiscal execution in the first half of the year, including central and local governments."

The government said it will execute 358 trillion won worth of finances in the first half of the year, the largest ever, to boost domestic demand.

Acting President Choi Sang-mok told a meeting of ministers on state affairs and economy at the Seoul Government Complex today that the government, local governments and local education offices will set the highest level of fast-track execution targets and execute 358 trillion won in the first half of the year.

In particular, it announced that it will execute 40% in the first quarter and 70% in the first half of the year for projects related to revitalizing the people's livelihood and the economy worth 85 trillion won.

In addition, he stressed that he will actively support the recovery of the construction industry by investing 37.6 trillion won in public institutions and 2.8 trillion won in private investment in the first half of the year.

Acting Choi explained that economic legislation, such as the Special Act on Semiconductors and the Special Act on the Power grid, will be quickly promoted through the ruling and opposition parties' government consultative bodies, and that the revision of the enforcement ordinance will be completed in January or February.

Acting President Choi said, "There is a lot of public anxiety and concern about the weakening of our ability to respond to the crisis in the domestic and foreign exchange situations," stressing that he will operate a meeting of ministers related to state affairs and economic affairs as a national policy control tower and hold meetings every week for the time being.

Regarding today's agenda of the Lunar New Year's Day's people's livelihood measures, he said he would do his best to stabilize the prices of holiday shopping baskets at a time when upward pressure is high at the beginning of the year.

Regarding the designation of a temporary holiday, Choi said he would consider the designation of a temporary holiday on January 27 based on public opinion, and is expected to vote on the related agenda through a Cabinet meeting soon.