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Thank you very much for visiting the English website of the Ministry of Strategy and Finance.
The Ministry’s main tasks cover (i) macroeconomic policy formulation; (ii) policy coordination; (iii) taxation and budgeting; (iv) fiscal planning and management; (v) public institution oversight; (vi) international finance; and (vii) multilateral/bilateral economic cooperation.
The Ministry is fully committed to further strengthening the resilience of the Korean economy and ensuring its long-term prosperity.
In this regard, our policy focus is to actively pursue structural reforms in the four key areas of the labor market, public sector, financial market and education.
First, we plan to increase labor market flexibility and address structural imbalances to create jobs for young adults.
For the finance sector, we will drastically reform regulations in order to promote competition. This includes creating a better environment for venture capitals and facilitating convergence between IT and the finance industry.
In the public sector, budget expenditures will be thoroughly reviewed and performance-based management in public institutions will be strengthened.
We will also reform our education system to support vocational training and enhance university programs.
The Ministry strives to promote transparency in the policy making process and to provide useful information. For this reason, we welcome your constructive comments and feedback.
Thank you for your interest and support.
Yoo Il ho
Deputy Prime Minister and Minister of Strategy and Finance.