The ‘compressed growth distribution’ of the Cold War-dependent Park Chung-hee regime was restored as the consumption of the high-income class increased and asset prices rose sharply due to the high export dependence of the bureaucracy.
Acting Prime Minister Hong Nam-ki announced on the 11th that “We will focus on reinforcing import and output, which is driving a fast and strong rebound,” posting the announcement of the import and export breaking news of the Customs Service on SNS.
President Moon Jae-in instructed at a state council meeting on the 11th that "in order to achieve the 4% economic growth rate, each ministry, centered on the Ministry of Strategy and Finance, should make every effort."
On the 11th, Lee Ho-seung, head of the Blue House Policy Officer, who was an official of the Ministry of Equipment, said, "We will mobilize all of the government's capabilities through active fiscal management to achieve a growth rate of more than 4% this year." “We will actively support human resources training and vocational training,” he said at the Future Forum and announced'pre-growth post-distribution' by'total support for expanding investment in exporting companies'.
The Korea Customs Service's export statistics for May 10 were led by an increase of 81.2% ($12.5 billion) compared to the same period last year, but a 128.2% increase in exports of passenger cars (358.4%) and petroleum products, which surged 3.5 times higher than the previous year, and exports of semiconductors rose 51.9%. to be.
In terms of imports, crude oil imports increased by 202%, petroleum products increased by 184.7%, imported cars increased by a whopping 209.9%, and semiconductors increased by 24.1%.
The unemployment rate in April was 4.0%, down 0.2 percentage points from the same period last year, but the unemployment rate for young people (aged 15 to 29) rose 0.7 percentage points to 10%.
Employment growth is still increasing in health and social welfare services (224,000 people), construction (141,000 people), transportation and warehouses (107,000 people), but the wholesale and retail business of common people is increasing to -182,000 people. Has become.
The surge in automobile consumption was concentrated in the quintile 20%, which is the highest income group. Last year, automobiles and transportation equipment surged to 27.4%, but the median grade decreased by 4.4% in the quartile and 7.4% in the third quintile. Economic Crisis and Household Consumption' data.
KDI data revealed that the highest income in the fifth quintile showed an increase of 6.5% last year in terms of household and home appliance consumption, but household consumption fell 9.71% due to a 5.14% decrease in total household consumption.
V-shaped rebound through asset value rise through fund economy. In the economy, the government-supported export-led future industry, semiconductor bio-electric vehicle stock prices and high-priced apartments, surged, and manufacturing employment did not increase, and the demand for imported cars seems to have doubled in terms of consumerism.
In exports, China increased 45.5%, which has led the increase, while the US, where passenger car exports are concentrated, surged 139.2%, and the European Union also increased exports by 123.2%.