Deputy Prime Minister Han: Financial Plan to Proceed As Scheduled

Deputy Prime Minister and Minister of Finance and Economy Han Duck-soo said on Friday that the government would continue Focus on Plan to expand Economy until clear signs of recovery become apparent.

“There will be no setback in the plan for finance measures for the first half year, and the comprehensive investment plan will proceed as scheduled,” Han told reporters at his first media briefing at the Gwacheon Government Complex.

He added that credit card spending during March 1- 15 has grown by 14 percent compared to the same period last year, which shows clear signs that consumption and investment are back on track for recovery. He predicted that imports would increase by two digits during March.

Han also promised consistent plans to stabilize the housing market. “Countermeasures to stabilize the housing market in the metropolitan area have reduced the scale of price increases of these apartments. Along with that, the reconstruction market of the Gangnam area has remained steady,” he said. He added, however, that some areas have shown signs of price increases, and that the government would strengthen its monitoring of those areas.

Byong-Ki Lee eye@donga.com