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Korea's Finance Minister Vows to Stabilize Consumer Prices

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저작자 미상 (저작물 2267374 건)

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공표년도

창작년도

2011-02-09

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Korean Finance Minister Yoon Jeung-hyun says he will focus on stabilizing consumer prices and creating more jobs in the first quarter of this year in order to improve the lives of the working-class.
Marking his two-year anniversary of leading the country's economy on Wednesday‚ Yoon stressed that although the government is putting forth efforts to fight inflation prices still hiked more than four percent in January.
Because of this‚ he plans to manage stable macro-economic policies to stimulate continuous recovery amid the lingering external and internal uncertainties.
The minister pointed out that creating jobs and achieving balanced growth between exports and the domestic economy would also help the government reach its ambitious goal of five percent growth and three percent inflation this year.
And during an economic policy meeting earlier in the morning‚ Yoon emphasized the need to restructure the country's refinery and telecommunications industries.
He said structural problems in the distribution process of these sectors contribute to inflation‚ along with rising global oil prices and telecommunication bills.
Revamping these sectors to boost price competition is crucial in improving the market mechanism.
Such industries are monopolistic‚ indicating that a larger burden is levied on consumers than producers.
In other words‚ domestic refinery and telecommunication companies made profits of billions of US dollars last year while consumers had to pay for higher oil and telecommunication prices.
Choi Won-young‚ Arirang News.
Reporter : won102@arirang.co.kr

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