Kim Yong-beom urges shift from growth to livelihoods and opportunity

  • Kim Yong-beom urged a policy shift from reviving growth toward spreading its benefits.
  • 3.3% and 2.9% are the Bank of Korea's growth forecasts for this year and next year.
  • Kim proposed housing, employment, transition and education support to address K-shaped growth.

Kim Yong-beom, presidential chief of staff for policy, urged the government to shift its policy focus from reigniting growth to ensuring its benefits reach citizens more quickly and evenly. Citing Bank of Korea growth forecasts of 3.3% for this year and 2.9% for next year, he said the recovery rests on a solid foundation but remains uneven. Kim said South Korea's AI- and semiconductor-centered growth strategy is creating major opportunities while contributing to so-called K-shaped growth, in which gains are distributed unevenly. He called for stronger support to reduce housing burdens, expand income and career opportunities, assist workers displaced by industrial transition, and provide education and training regardless of age or circumstances.

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