Minister of Strategy and Finance Choi Kyung-hwan has called on the National Assembly to swiftly pass structural reform bills.
 
Choi said at a briefing at the Seoul Government Complex on Sunday that although Moody's Investors Service has upgraded South Korea's sovereign credit rating, it may decline again if structural reform is not realized.
 
Choi added that the upgrade will act as a bulwark against uncertainties and infuse confidence into the South Korean economy. But he warned against conceit, saying the government should sustain the momentum for economic recovery.
 
Legislation aimed at labor reform, service industry promotion and corporate revitalization are currently pending in parliament.
 
Choi said this year and next year will decide whether the South Korean economy will be able to make another leap forward, appealing to the National Assembly to pass the bills before the year ends.