People's Livelihoods Task Force Meeting
On February 6th (Thursday), First Vice Minister Kim Beomseok held the People’s Livelihoods Task Force (TF) meeting at the Government Complex-Seoul. The People’s Livelihoods TF is an expanded and reorganized version of the previous Economic and Financial Monitoring TF, with a focus on not only monitoring the real economy and financial markets but also formulating cross-governmental measures to improve people’s livelihoods.
※ Participants: 1st Vice Minister of Economy and Finance (Chair), and officials from the Ministry of Education, Ministry of Science and ICT, Ministry of the Interior and Safety, Ministry of Culture, Sports and Tourism, Ministry of Agriculture, Food and Rural Affairs, Ministry of Trade, Industry and Energy, Ministry of Health and Welfare, Ministry of Employment and Labor, Ministry of Land, Infrastructure and Transport, Ministry of Oceans and Fisheries, Ministry of Small and Medium-sized Enterprises and Startups, and the Financial Services Commission.
In today’s meeting, the current status and challenges in key areas related to people’s lives and the economy such as prices, jobs, housing, and public finance were shared, and improvement measures were discussed. In addition, future operation plans for the Meeting on Improving People’s Livelihoods and necessary actions were reviewed.
1st VM Kim pointed out that, with external uncertainties such as the U.S.-China mutual tariff impositions materializing, downward pressure on the economy is increasing due to weakened economic sentiment, raising concerns that the public may face further hardships. Under these circumstances, he stressed that each ministry must swiftly prepare relevant measures to restore people’s livelihoods and the economy.
To this end, he urged each ministry to utilize all available measures, including amendments to enforcement decrees and regulations, temporary regulatory relief, and expanded policy finance, to prepare and implement sector-specific livelihood improvement measures with speed through the Meeting on Improving People’s Livelihoods held on a weekly basis (chaired by the Acting President and Deputy Prime Minister) during the first quarter. In particular, since many ministries are involved in addressing the livelihood challenges of a specific sector or group, he called on them to work as a “one team” and seek solutions together. He also stated that, through the weekly People’s Livelihoods TF meetings, they would review the sector-specific improvement measures for people’s livelihoods and the economy to be announced at the Meeting on Improving People’s Livelihoods and coordinate the practical implementation.
Please refer to the attached files.