South Korea's Finance Minister Hong Nam-ki said his ministry will listen to public opinions and complement policies that did not live up to market expectations.

Speaking at a Wednesday meeting of economy-related ministers, his first since taking office, Hong said the pace of higher minimum wage hike and the 52-hour work week system will be readjusted, if necessary. 

Hong said the new economic team will keep the three economic axes of income-led growth, innovative growth and fair economy crafted by its predecessors.

He promised to focus on reviving the economy and improving economic fundamentals.

Noting the civic sector is central to invigorating the economy, Minister Hong said the government will play the role of a supporter. He promised his team will more than ever before seek to solve problems on the field, reflecting on-the-ground realities.

The finance minister noted next year's economic policy direction mainly consists of four areas: addressing investment concerns, structural reform, embracing the socially marginalized and responding to future challenges.