Moon Jae-in targets 4% growth in South Korea this year

Entering final year in office, president vows to bolster nation's chip industry

20210510 South Korean President Moon Jae-in3

South Korean President Moon Jae-in speaks in Seoul on Monday to mark four years since he took office. © Yonhap/Kyodo

KIM JAEWON, Nikkei staff writer

SEOUL -- In a speech to mark four years since coming to office, South Korean President Moon Jae-in targeted 4% growth this year for an economy that has largely withstood the ravages of the pandemic.

"I will mobilize all government resources and boost the vitality of the private sector to reach a growth rate of more than 4% for the first time in 11 years," Moon said on Monday. "The government will lead the economic recovery with an active and expansionary fiscal policy. The government will support corporate investment and spare no effort to help exports reach a record high."

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