South Korea adopts "new normal" policy for second half of the year

Key Points

1. 1
   The South Korean government has decided to implement a new normal policy for the second half of this year.
2. 2
   President Yoon Suk-yeol and President-elect Lee Jae-myung have agreed on key measures including tax cuts, increased public spending in education/infrastructure/culture/sports/family support sectors (excluding defense), and subsidies. These decisions were made to boost economic growth despite the global downturn caused by US-China trade tensions.
3. 3
   The government plans for a 10% increase in national budget allocation starting from next year's fiscal plan, with specific focus on education infrastructure.