President Moon Jae-in assessed that South Korea’s economic recovery is accelerating, while vowing to exert efforts toward achieving inclusive recovery to minimize socioeconomic inequality.

Moon made the pledge at a Cabinet meeting on Tuesday, referring to international agencies revising up growth forecasts for South Korea, and figures on exports, investment and consumer sentiment returning to pre-COVID-19 levels.

The president then called to speed up the fourth round of COVID-19 relief payments and financial support for those in the agricultural and fishing industries.

After the Cabinet approved an enforcement ordinance that placed a cap on the legal maximum interest to 20 percent, Moon said the revision is expected to ease the burden for two-point-08 million high-interest debtors.

He also pledged 300 billion won in state support to lower the interest to under 20 percent as the ordinance will not be applied retroactively.