However, putting such words into action without setbacks is as important as the drawing up of appropriate plans. Economic agents including firms, financial institutions and households need to realize that they can enjoy the fruits of growth for a long period of time only if they participate in structural reform and endure the resulting pains. Dear fellow members of the Bank of Korea!
I would like to touch now on the tasks that we will need to focus on this year. First of all, we should conduct our monetary policy in such a way as to support the recovery of economic growth on a foundation of price stability, while also paying attention to financial stability.