Kim Yong-beom, Vice Minister of Equipment, “International Grain Price Rise…Review of measures to ease corporate burden”

Input 2021.03.26 08:56 | Revision 2021.03.26 08:58

The 1st Vice Minister of Strategy and Finance Kim Yong-beom said on the 26th, “We will actively review measures to ease the burden of related industries such as financial and tax support for companies that are struggling with rising raw material prices.”

On the same day, Vice Minister Kim held the 11th policy review and inflation-related vice-ministerial meeting at the government office in Seoul. It is expected,” he said. “Since the second half of last year, the price of processed foods such as instant rice, bread, and tofu has increased due to the increase in international grain prices, and the perceived inflation has increased.”

Vice Minister Kim said, “We will actively review measures to relieve the burden of related industries such as supplying government stocks, expanding financial and tax support, and improving import procedures for companies suffering from rising raw material prices.” “We will do our best to stabilize the lives of the common people and ease the burden of the people’s livelihood by making efforts to reduce the factors of price increase, focusing on items that are closely related to the lives of the common people.”

In addition, Vice Minister Kim said, “The International Monetary Fund (IMF) raised Korea’s growth rate to 3.6% (+0.5%P). The reason that the international financial institutions have given a higher growth rate than the domestic prospects is that the Korean economy seen from the outside is Proof of being healthy from a global perspective,” he said.

Deputy Minister Kim continued, “We will do our best in policy promotion and inspection so that all the people can feel the confidence of our economy shown through the increase of the growth rate.” “We will do our best to prepare for the New Deal Fund, which will be released next week, to become a foothold for the growth of the post-corona.”