Containers are stacked at a port in Pyeongtaek, Gyeonggi Province, May 8. Yonhap
Korea's finance ministry said Wednesday the government will roll out efforts to stabilize consumer prices amid the prolonged Middle East war, building on its economic achievements made during the first year of the current administration.
First Vice Finance Minister Lee Hyoung-il announced the plan during a Cabinet meeting held in Seoul ahead of the upcoming first anniversary of President Lee Jae Myung taking office, according to the Ministry of Finance and Economy.
During the Cabinet meeting, the vice minister said Korea promptly overcame the aftermath of the botched martial law bid in late 2024, with the economy expanding 1.7 percent in the January-March period from a quarter earlier.
In a report, the finance ministry said the government stabilized living costs and pursued an industrial transformation led by artificial intelligence (AI) technologies, while working to revitalize the financial market.
