Deputy Prime Minister and Finance Minister Yoo Il-ho says the government should put all its energy towards risk management, economic recovery and stabilization of the people’s livelihood.

Yoo made the call on Monday during the ministry’s New Year ceremony at the government complex in Sejong City, noting that the country is at a crossroads between overcoming all challenges to take a leap forward and remaining stagnant.

He projected the country will face a number of economic hurdles such as U.S. interest rate hikes and changes in trade policies under the Trump administration and the economic slowdown due to increasing uncertainties at home and abroad.