Deputy Prime Minister and Finance Minister Yoo Il-ho on Monday described the nation’s current economic conditions as being in a more serious state than ever before.
 
Yoo made the remark during a joint briefing after a meeting on ways to boost trade and investment chaired by Acting President Hwang Kyo-ahn.
 
Yoo said that domestic demand continues to slump amid expanded economic uncertainties due to protectionism and concerns over the nation’s political situation.
 
He also said the government is exerting best policy efforts to block further contraction in domestic demand and to breathe new life into the economy.  
 
During Monday’s meeting, the government decided to revitalize regional economy by promoting investment toward tourism and services industries. As part of such measures, the government plans to create a top-of-the-line driving course along the southern coast and transform the shores of the Seomjin River into an arts belt using natural, historical and cultural resources of that region.
 
The government also decided to improve investment conditions of areas closely related to people’s everyday lives, including enabling the sale of craft beer in large discount stores and opening the parking lots of apartments with charge.