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President Moon Jae-in, who emphasizes the green light for economic recovery every day, said: “If the trend of economic recovery continues in the fourth quarter, our economy will be able to recover from the impact of the crown and enter the normal trajectory. from the first half of next year. “
President Moon told a meeting of the Blue House chief and advisers on the 2nd: “If you look at several recently released economic indicators, you can see that our economy is rapidly recovering from past difficulties.” “The fact that the GDP growth rate in the third quarter showed the steepest increase in 10 years after the global financial crisis and turned positive means that the Korean economy has escaped the sharp decline in the first and second quarters. and it has changed to a marked growth trend. ” In particular, the “triple increase” in industrial activities in September, the last month of the third quarter, in which production, consumption and investment increase together, further illuminates the prospect that growth will continue in the fourth quarter ”.
President Moon stressed that “exports, which account for 40% of the Korean economy, played a central role in driving the economic recovery in the third quarter.” Regarding the performance of October exports announced the day before, “the number of business days decreased and total monthly exports decreased slightly, but average daily exports rebounded to a positive level 9 months after January, before the coronavirus, and posted the highest performance in 13 months. “It is a very valuable achievement amid the contraction of international trade, and it is a result that increases confidence that our economy can recover soon.”
However, there is still high uncertainty in the global economy, with lockdowns resumed in countries around the world such as France and Germany. President Moon said: “We are striving to boost domestic demand and increase the vitality of consumption, but we cannot be relieved that small-scale coronavirus infections continue to occur. In preparation for the prolonged crown, the government should work harder on efforts to increase economic vitality while striving to achieve a sustainable quarantine in line with the era of coexistence with Corona, such as the reorganization of the social distancing system. We will create an economic model country following the country ”.
In addition, President Moon assessed that the capacity of the “manufacturing industry” shone amid the economic crisis. “The reason why the Korean economy did a miracle in a situation where the movement was restricted due to the crown and the service industry was very contracted was possible due to the active production and export of our manufacturers on the solid foundation. of a strong manufacturing industry. ” He mentioned that the average daily exports of semiconductors and automobiles reached their highest level this year, and the exports of the biohealth sector exceeded 10 billion dollars annually for the first time in history until October. “It is also significant to register an average daily plus in 25 months in the four export markets of the US, China, the EU and ASEAN in 25 months.” It is thanks to the opportunity to break through. I am deeply grateful to the employers, workers, workers and management ”.
In addition, he emphasized that the localization trend of ‘small manager (materials, spare parts, equipment)’ will continue. President Moon said: “Through the crisis of the crown, I realized that it is more important than anything else to do better what we are good at. As we seize the opportunity to become a manufacturing powerhouse no one can shake with localizing the materials, parts and equipment industries last year against Japan’s export regulations, we will make it an opportunity to move further. more in our manufacturing industry and increase our competitiveness by taking lessons from the crown economic crisis. He emphasized: “We need to further strengthen our support to accelerate innovation in the manufacturing industry, stimulate the development of cutting-edge manufacturing industry, which is our strength, at the same time as we focus on supporting the traditional manufacturing industry, mutual growth of small and medium-sized enterprises and support for human resource development “. did. Furthermore, he argued that the Korean version of the New Deal, which has two pillars of ‘digital New Deal’ and ‘Green New Deal’, will further promote innovation in manufacturing and further elevate Korea’s status as a manufacturing powerhouse.
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