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President Lee Calls for Second Round of Measures to Fuel Domestic Demand

Written: 2025-08-14 17:14:46Updated: 2025-08-14 18:57:03

President Lee Calls for Second Round of Measures to Fuel Domestic Demand

Photo : YONHAP News

President Lee Jae Myung has called for a second round of measures to fuel domestic demand. 

Speaking at a meeting with senior aides on Thursday, Lee said it is essential to boost consumption and promote the domestic market to lay a foundation for stable growth amid the rapidly changing tariff environment. 

He said the effects of the government’s cash vouchers are becoming apparent, with consumer sentiment reaching a four-year high in July and almost 56 percent of small merchants reporting an increase in sales. 

He called for plans to revive domestic consumption, making use of the long Chuseok Thanksgiving holiday in October and the Asia-Pacific Economic Cooperation summit set to take place in Gyeongju on October 31 and November 1. 

He also said the petrochemical industry is in the midst of a significant crisis due to a slump in global demand and oversupply from China, and he instructed officials to reach out to related ministries for comprehensive reorganization plans.

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