Amid growing concerns about inflation, the presidential office has vowed to make various efforts in the short term to tackle the emergency supply-side situation.

In a briefing on Wednesday, a day before the Yoon Suk Yeol administration is set to announce its economic blueprint for the next five years, the presidential office emphasized that the current economy was facing a supply-side crisis, adding that supply-side induced economic crises tend to run long.

To counter this, the office explained it was the government's role to help cut costs by relieving supply chain blockages in the short term.

The office said the government was already responding to the current economic situation by shifting to an emergency economic response system and added that economic meetings presided over by the deputy prime minister will also be switched to emergency meetings.