Economic Bulletin | KDI 경제교육·정보센터

KDI 경제교육·정보센터

Economic Information and Education Center

발행물

Policy Issue

Policy Issues (December 2014)

2015 Economic Policy Directions --- The government unveiled the 2015 economic policies which focus on addressing the structural problems the Korean economy is currently faced with: low growth, weakening growth momentum and imbalances between industries and labor markets. The 2015 policies are expected to boost implementing the Three-year Plan for Economic Innovation the Park administration launched to solve structural problems. Basic direction of economic policy in 2015 1) Improve economic fundamentals through structural reform and promote economic recovery - Boost public sector spending efficiency - Boost financial dynamism by promoting competition and venture capital, and create a virtuous cycle for funding that will lead to change in the real economy - Ease labor market restrictions - Respond to the falling economically active population by attracting foreign professionals and increasing the number of working women - Fix discrepancies in supply and demand for workers by fostering customized job training and improving education 2) Revitalize the economy in a manner that supports structural reform - Boost domestic demand by implementing expansionary macroeconomic policies and improving consumption conditions - Support new growth engines and promote innovation in major industries by promoting RD innovation, implementing the corporate investment promotion program and implementing regulatory reform - Stabilize the housing market by fostering the private rental home industry as a ‘promising industry’ 3) Preemptively respond to risk factors - Encourage households to convert their debt into long-term fixed-rate loans - Promote preemptive and market-friendly corporate restructuring and reshuffling - Develop safety measures to respond to capital flow volatility and improve regulations 4) Lay the groundwork for reunification by improving inter-Korean trust

Dec 2014