President Yoon Suk Yeol has presided over a meeting on economic policy directions for the second half of the year and announced 25 trillion won in support measures for small businesses. 

The meeting, held at the former presidential compound of Cheong Wa Dae on Wednesday, focused on the direction of economic policy for the second half, comprehensive measures for small businesses and the self-employed people, as well as a roadmap to address structural problem in the Korean economy.

In opening remarks, Yoon assessed the economy is seeing improvements, citing that exports posted a surplus for nine straight months while inflation remained in the two-percent range for the third consecutive month in June. 

However, the president said improvements in the economic indexes and global assessment of the Korean economy are not leading to vitality in people’s livelihoods, calling for efforts to address the issue and structural problems related to people’s livelihoods. 

Yoon stressed the need to provide sufficient support for small businesses still suffering from difficulties due to the COVID-19 pandemic, saying the government has prepared comprehensive measures worth 25 trillion won to support them.
 
He added that the government will seek systematic, customized measures to support small businesses rather than stopgap policies such as cash handouts.