Deputy Prime Minister and Minister of Finance and Economy Koo Yun-cheol said South Korea’s economic recovery is gaining momentum, with the possibility of per capita gross national income (GNI) reaching $40,000 this year becoming more likely. He cited second-quarter GDP growth of 26.4% from a year earlier, the highest growth rate in 47 years, along with household survey data showing income gains concentrated among low-income groups and positive assessments from global credit rating agencies Moody’s and Fitch. At meetings held at Government Complex Seoul, Koo and ministers and officials discussed structural innovation in the steel industry. The government plans to release measures by the fourth quarter covering AI-based manufacturing improvements, higher-value products such as special steel and a hydrogen-centered low-carbon transition. Officials will also develop plans for other key industries, including petrochemicals. Koo said vacant and unsold knowledge industry centers could be converted into public rental housing for young people and newlyweds, while authorities will intensively inspect several forms of trade-related financial crime and procurement misconduct.