President Yoon Suk Yeol said, ¡°The New Year of 2024 will prove to be a significant turning point for Korea¡¯s new leap forward,¡± adding, ¡°We will make this year one that energizes your daily lives. The warmth of economic achievement and recovery will reach every corner of our society.¡±

In his New Year¡¯s speech on Jan. 1 at the briefing room of the Office of the President in Seoul¡¯s Yongsan-gu District, he said, ¡°Our overall economic vitality will improve as global trade is expected to pick up. Increased export will drive recovery and further growth.¡±

¡°To sustain economic vitality, we will continue to abolish ¡®killer regulations¡¯ that hinder business investment. We will intensively support cutting-edge industries so that businesses may fully boast their creativity and innovation.¡±

¡°Through economic and sales diplomacy, our foreign policy has focused on creating jobs for Koreans. Since taking office, I have had 151 meetings with 96 heads of state. I enlarged the playing field for our businesses and people to realize their full potential.¡±

He added, ¡°Since its inception, my administration has consistently fought and rooted out corruption and illegal activities. Interest group cartels, government subsidies abuse and the harmful effects of monopolies in certain industries have been major targets. We will continue our endeavors this year to expand your freedom, improve welfare and create a fair society.¡±

On the three major structural reforms of labor, education and pension, President Yoon said, ¡°For sustainable economic growth, we need to enlarge the economy¡¯s structural growth potential.¡±

¡°We will transform the wage system into one that focuses on the work you do and performance you achieve rather than on seniority. We will also reform the dual structure of the labor market.¡±

Turning to education, he said, ¡°We will provide bold financial support to universities that pursue innovation, thus nurturing global talent.¡±

On national security, President Yoon said, ¡°Our military will be transformed into a powerful force based on cutting-edge science and technology including AI and the Manned-Unmanned Teaming System,¡± adding, ¡°A seamless global economic security network will be built upon such solid national security foundations. We will significantly increase our resilience against disruptions in the supply chains for minerals, materials and parts that bear directly on our key industries and your livelihood.¡±