Minister of Strategy and Finance Yoon Jeung-hyun underlined on Friday that a balanced growth of domestic demand and export should be promoted through monitoring conditions at home and abroad and nurturing the service sector.
“Recent indicators imply the economy is improving, but advanced economies are slowing down and financial uncertainties exist in Europe,” Yoon said in a crisis management meeting held in the Gwacheon Government Complex.
“Korea is a country that most heavily depends on export among the G20 nations. That is why it is vulnerable to changes in overseas conditions. We should reinforce monitoring of market conditions abroad to maintain a stable recovery and foster the service sector for a balanced growth of domestic demand and export,” Yoon emphasized.
As for the development plans for the skill-intensive fashion industry proposed by the Ministry of Knowledge Economy (MKE), Yoon said, “The fashion industry is a high value-added industry that can create both physical and psychological values and effective jobs creating industry which is affected by inter-industry ripple effects. It is reasonable to secure growth momentum for a stagnated traditional industry.”
[Written by Won-kyung Sung - Su-hyun Song / edited by Soyoung Chung]
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