Lee Hyung-il: "Exports Expected to Surpass $1 Trillion for First Time… GNI of $40,000 Coming Into View"

Deputy Prime Minister and Minister of Economy and Finance Lee Hyung-il projected that annual exports are expected to exceed $1 trillion for the first time in history this year.

Chairing the Emergency Economic Headquarters Meeting and Economic Ministers' Meeting at the Government Complex Seoul today (October 1), Deputy Prime Minister Lee made the remarks, stating, "Exports are set to record an all-time monthly high in September."

"Despite difficult external conditions such as the Middle East war, our economy is on a stronger growth path than ever before," he diagnosed, adding, "As investment, consumption, and employment improve with a time lag, achieving growth in the 3% range this year and a per capita gross national income of $40,000 are coming into view."

Deputy Prime Minister Lee held the Emergency Economic Headquarters Meeting and Economic Ministers' Meeting today for the first time since taking office.

The Ministry of Economy and Finance announced that the meeting was attended by Financial Services Commission Chairman Lee Uk-won, along with ministers, vice ministers, and agency heads from 16 government bodies excluding the ministry, as well as Lee Han-joo, Chairperson of the National Research Council for Economics, Humanities and Social Sciences.

"Feeling a heavy sense of responsibility as I preside over my first Economic Ministers' Meeting since taking office, I will focus our policy capabilities on making the lives of our citizens better by putting our heads together as an economic 'one team' with the ministers and vice ministers present here," Lee stated, expressing his determination.

"To keep the SS Republic of Korea sailing smoothly, we must tighten our sails even more," he said, expressing his intent to pursue large-scale investments through three major mega-projects and resolve bottlenecks hindering corporate investment to serve as a stepping stone for a rebound in the potential growth rate.

Deputy Prime Minister Lee emphasized that he will strive for people's livelihoods through price stability and the reduction of disparities, adding, "We will mobilize all available financial resources and policy instruments in the three core social policy areas of housing, jobs, and livelihood finance to swiftly generate tangible results that the public can feel."

He also added that amid the ongoing shocks from the Middle East war, authorities will closely monitor the impact on the financial and real economies and respond preemptively.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.