A supplementary budget is necessary to tackle the many economic challenges the country faces.<br />That's coming from President Moon Jae-in during a meeting with his top aides, where he also called on the government and parliament to work together,… and promised greater support in promoting investment in the private sector. <br />Shin Semin reports<br />President Moon Jae-in expressed his deep regret over the rifts among political parties,... during an especially critical time when the country's economy is at stake.<br />During a weekly meeting with his top aides,... he said he hopes the parliament endorses the government-led budget plan, worth 5-point-8 billion U.S. dollars as soon as possible.<br />"Economy is all about timing. As the handling of the supplementary budget gets delayed, the burden on the people's lives and the economy will only expand."<br />The extra budget had been devised to tackle the worsening fine dust issue and give a boost to the slumping economy. <br />The president also called on the government to take greater responsibility in working to revive the country's economic revitalization,... <br />while hinting that his administration will also work to promote investment in the private sector. <br />"In particular the government will prioritize its support in nurturing three industries, system semiconductors, bio-health and future vehicles. Support for these policies will not be spared so they become the country's three pillars of new growth engines." <br />The president said government-led investments,... which lead the way in breathing life into the economy,... will have to expand into high-tech industries, to potentially create a "second venture boom."<br />On top of that,... the president referred to recent investment plans announced by the country's leading conglomerates SK Hynix and Samsung Electronics. He said that a boost in civilian investment is an important factor and ordered the government to create an investment climate. <br />"Despite a solid economic foundation,... there are multiple hurdles to overcome-- like waning investment, outbound shipments, and consumption. President Moon hopes to resolve these issues by uniting support from his government and the members of the parliament. <br />Shin Se-min, Arirang News." <br />
