If I was given this theme last year, a few long-term challenges Korea is facing would have come to the fore such as low birth rate and aging population, risk of secular stagnation, pension and labor market reform, economic and geopolitical fragmentation resulting from tensions between the US and China, to name a few.
As you are well aware, however, since I took office in April, global inflation has rapidly soared, and we are now busy in coping with high inflation. Like many other major central banks, we systematically missed inflation forecasts after the pandemic.