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| ▲ Finance Minister Koo Yun-cheol (C) speaks during a policy meeting between the government and the ruling Democratic Party at the National Assembly on Jan. 7, 2026. (Yonhap) |
ruling party-economy
Ruling party, gov't pledge 'proactive' fiscal policy to prop up consumption
By Yi Wonju
SEOUL, Jan. 7 (Yonhap) -- The ruling Democratic Party (DP) and the government on Wednesday pledged to maintain a "proactive" fiscal policy this year in a bid to prop up private consumption and revive the economy.
Finance Minister Koo Yun-cheol said the government will put its focus on supporting people's livelihoods and self-employed people through a "proactive fiscal policy, including boosting total demand."
Koo made the remarks as the government and the DP held a meeting on this year's economic policies.
Koo stressed that the government will foster the semiconductor, defense and biotechnology industries while stepping up the transition to an ultra-innovative economy driven by AI transformation and green transition.
The government will spare no effort to overcome challenges, such as rising protectionism, disruptions in global supply chains and the weakening of traditional industries, Koo added.
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