South Korean President Yoon Suk-yeol emphasized on Friday the need to maintain a sound fiscal stance while promoting private sector-led growth through deregulation and increased investment in research and development (R&D). He called for the abolishment of the preliminary feasibility study for R&D projects and advocated for a significant boost in R&D investment to drive innovation and enhance public welfare.

Yoon also highlighted the importance of efficient fiscal management in addressing economic uncertainties. He stressed that the government must focus on allocating resources effectively, investing in key areas that promote sustainable growth and improve people’s livelihoods.