From a trough of fewer than 1.5 million units at an annual rate during the recession of 2000, starts of new single-family and multifamily homes rose to a post-World War II high of 2.2 million units last year.
If we leave our economy’s structural vulnerabilities unresolved, citing the unfavorable conditions currently before us, then the recovery of our growth potential will become even more difficult to attain. Dear members of the Bank of Korea, I would like to touch now on the major tasks that we will need to focus on this year.