Deputy Prime Minister of Economy and Minister of Strategy and Finance Chu Kyung-ho said, ``The Korean economy is expected to improve in the second half of the year, and the trend of austerity will continue.''

Choo Kyung-ho, Deputy Prime Minister of Economy and Minister of Strategy and Finance, said on the 5th that the government will develop policies with an emphasis on stabilizing prices and improving economic fundamentals even in a severe economic environment.
During an online meeting with the International Monetary Fund (IMF) South Korean mission at the Seoul Government Building in Jongno-gu, Seoul, Vice Prime Minister Chu said, "The Korean economy can rebound in the second half of this year.
We will do our utmost to support economic activities in the private sector,” he said. Earlier, Herald Finger, head of the IMF mission to South Korea, said that the
The results of the next consultation were explained to Vice Premier Qiu, and opinions were exchanged on major issues. Regarding the general outlook for the Korean economy, Herald commented, "The economy is expected to recover from the second half of this year, supported by factors such as an improvement in the semiconductor economy.
direction will be strengthened. The government's prompt response to the recent Saemaeul Depository crisis has helped to successfully alleviate financial concerns."
Regarding the housing market, he said, "Measures such as deregulation of real estate and tax exemptions have contributed to the stabilization of real estate prices (soft landing).
Ta. However, such market stabilization measures must be supported on a temporary and selective basis to prevent potential moral hazards."
The IMF Annual Consultation is a meeting that annually examines the overall economic situation of member countries, including macroeconomics, finances, and finance, based on the IMF Articles of Agreement.
The IMF publishes a country report after the activities of each country mission and after approval by the Executive Board.