MOEF Releases 'Safeguarding Economic Resilience',
Korea’s COVID-19 Response Strategy
The Ministry of Economy and Finance (MOEF) has released its report on K-COVID-19 response strategy, which includes K-quarantine and policies to help maintain economic resilience and prepare for a post-COVID-19 economy. The report introduces the country’s 3P economic response strategies of protecting, preserving and preparing.
- Protecting: Protect jobs and low-skilled workers, such as through job security measures and local economy-boosting initiatives
- Preserving: Preserve economic resilience, such as through measures to boost consumption and exports, help suppliers and COVID-19-hit industries, as well as through monetary policies
- Preparing: Prepare for a post COVID-19 economy, in particular through the Korean New Deal and industrial restructuring
MOEF will share the report with international organizations, foreign governments and foreign press, and cooperate for the world to get through the pandemic.
Please find the three reports released previously on K COVID-19 response policies.
Testing time for resilience (May 3)
The third report on the COVID-19 response strategy is composed of nine sections, which range from international economic affairs and small business support to remote education and work.
Flattening the curve on COVID-19 (April 15)
The second report on the COVID-19 response strategy contains 1) social distancing, 2) high tech-based disease prevention and treatment, and 3) data sharing, such as through apps showing drugstore mask inventory.
Tackling COVID-19 (March 26)
At the request of WB Vice President for Infrastructure Makhtar Diop on March 25, the government shared Korea’s COVID-19 response tools and strategies with the bank to help developing countries.
Please refer to the attached pdfs