Economic strategy focuses on industry giants, possibly sidelining SMEs and deepening inequality
The South Korean government has unveiled a strategic economic program targeting the country’s pressing challenges, including inflation, declining exports and weakened consumer demand.
The program encompasses a range of measures from export promotion and research and development (R&D) enhancement to facility expansion and subsidies in energy and agriculture. However, critics point out that it fails to address the concentration of economic power among large conglomerates and does not adequately tackle growing income inequality.
The South Korean government has unveiled a strategic economic program targeting the country’s pressing challenges, including inflation, declining exports and weakened consumer demand.
The program encompasses a range of measures from export promotion and research and development (R&D) enhancement to facility expansion and subsidies in energy and agriculture. However, critics point out that it fails to address the concentration of economic power among large conglomerates and does not adequately tackle growing income inequality.
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