President Moon Jae-in says his government is working on measures both short-term and more fundamentally to see the economy through the slowdown in global growth and the trade restrictions by Japan that are hampering it further.
Here's the president today at a weekly meeting with his top aides.
"On top of diplomatic solutions, the government is hard at work on both fundamental and short-term measures. One way to revive exports is by invigorating domestic spending and tourism."
The president also said that in order for the Korean economy to go to the next level globally, it needs to boost its competitiveness in the industrial sector by highlighting its dynamism.
Moon highlighted the importance of the system of cooperation between the government and industry in giving Korea stronger edge in the material parts sector.