Koo Yun-cheol: “A New Leap Through AI Transformation and Core Industries... Government Will Work to Stabilize the Real Estate Market”

The government has unveiled a blueprint to link the economic recovery to an industry transformation centered on Artificial Intelligence (AI) and a new leap for core industries.
At the Growth Strategy Task Force and Council of Economic Ministers held at the Government Complex Seoul on the 20th, Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol stated, “The government will serve as a strong springboard for corporate growth,” adding, “We will swiftly promote the AI transformation and super-innovation economy projects, and promptly introduce measures to restore the competitiveness of core industries such as steel and petrochemicals.”
Starting as early as the end of this month, the government plans to sequentially announce innovation strategies for AI and smart manufacturing, advanced industries, and core industries, aiming to complete a ‘private sector-led growth transition’ roadmap by the first half of next year.
Koo emphasized, “We will establish a new growth foundation through a super-innovation economy and AI transformation,” and stressed the need for both the public and private sectors to concentrate national capabilities.
The government will also implement measures to boost consumption in order to sustain the momentum of economic recovery.
Koo noted, “After a prolonged slump, the economy is gradually regaining vitality,” and pledged, “We will ensure the revived economic momentum spreads further.”
He explained, “Consumption is rebounding thanks to policy effects such as livelihood recovery coupons, and the number of employed people in September saw the largest increase in 19 months. Stock prices have also reached their highest level since the launch of the new administration.”
In fact, the number of employed people in September increased by 312,000 compared to the same month last year, and the Korea Composite Stock Price Index (KOSPI) rose 38.9% from 2,698.97 points on June 2 to 3,748.89 points on October 17.
To further drive domestic demand recovery, the government will host the Korea Grand Festival from October 29 to November 9 to promote nationwide consumption.
Additionally, the Sangsaeng Payback program—which returns 20% of increased credit card spending as Digital Onnuri Gift Certificates—will be extended to cover purchases made through November.
So far, a total of 241.4 billion won has been refunded to 4.15 million people.
Koo stated, “We will ensure that the recovery in consumption leads to increased corporate investment by channeling market funds into productive sectors. We will also pursue stabilization of the real estate market and revitalization of the capital market.”

spring@fnnews.com Lee Bo-mi Reporter