South Korean President Lee Jae Myung has set a target of raising the country's potential growth rate to 3 percent, outlining a strategy that ties economic expansion to price stability and the development of new growth sectors.
The directive, issued on Tuesday, emphasizes the need to stabilize prices while fostering innovative industries to drive long-term productivity.
This represents a specific numerical benchmark for the administration's economic agenda, moving beyond general calls for growth to a defined structural target.
The announcement follows recent statements from President Lee regarding the distribution of economic gains.
In prior remarks, the president highlighted the need for targeted state policies to assist young people who have been excluded from recent booms in the semiconductor and stock markets.
The new growth target appears to be part of a broader effort to ensure that economic expansion is both sustainable and broadly shared.