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Aging population to drive down Korea's housing prices from 2040: experts
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Prime Minister Hwang Kyo-ahn on Wednesday urged the parliament to focus efforts on handling next year's budget plan on time, adding South Korea is currently facing challenging economic conditions.
"We are concerned over the negative impact on the production and export of key products such as handsets and automobiles, amid the troubles in the smartphone industry as well as strikes staged by railroad and automaker workers," Hwang said during a budget session at the parliament.
"Amid slowing exports and investment, South Korea's economy is also facing hurdles in the job market amid the restructuring of shipbuilder and shippers," Hwang said.
Hwang said the government reflected such challenges into next year's budget plan, asking the National Assembly to promptly provide support for Seoul's move to improve its financial health. (Yonhap)
