The government is aiming to revive the nation's struggling exports and domestic demand this year.

The ministers of finance, industry, land, maritime affairs and other heads of economy-related agencies on Thursday briefed President Park Geun-hye on their plans for the year 2016.
 
During a meeting at the government complex in Seoul, the ministers said they will seek to boost consumer spending and exports by increasing fiscal expenditure in the first half and taking advantage of the free trade deal with China.

The government is seeking to boost exports of agricultural products including kimchi and rice, and attract Chinese investment at a planned joint industrial complex at the Saemangeum Free Economic Zone on the west coast.
 
The government will also seek to aid up to three-thousand South Korean small and medium enterprises(SME) in their efforts to increase exports, and aim to boost cross-border e-commerce volume to over one-point-five trillion won or one-point-24 billion dollars.
 
To boost demand at home, the government will spend about eight trillion won in the first half of this year, and provide subsidies for healthcare services, retail industry, and cheap housing for 12-thousand households in Seoul and Gwacheon, Gyeonggi Province.
 
The government will also create real estate-backed pensions and smartphone applications aimed at making information for consumers more readily available, including product information such as prices.