SEOUL : South Korea unveiled on Wednesday a package of measures aimed at boosting domestic consumption, but stopped short of offering big-ticket plans for fear of stoking inflation, which is slowing but still high.The government said in a statement distributed by the finance ministry that it would impleme
SEOUL : South Korea unveiled on Wednesday a package of measures aimed at boosting domestic consumption, but stopped short of offering big-ticket plans for fear of stoking inflation, which is slowing but still high.
The measures were reported at a meeting headed by President Yoon Suk Yeol, who said at the beginning that the government needs to take steps to attract more foreign tourists, such as increasing international flights. The government said in the statement it would help the number of weekly flights to and from China, Japan and Southeast Asia rise by September to 90 per cent of that operating in 2019, compared with some 60 per cent in February.
South Korea's policy authorities are faced with the double task of keeping the economy from cooling too fast while making sure that inflation continues to head down below the 2 per cent target.
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