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.

NEED FOR REALIGNMENT

The economic stimulus program emerged in response to the prolonged deceleration in South Korea’s economic growth, which has seen a decline from an average