The first thing to note is the government's response to the EU's move to reduce the steel tariff-free quota (TRQ). The EU has maintained a hard-line stance of drastically reducing imported steel quotas and raising tariffs since July in the name of protecting its own industry. In response to this, the government went beyond simply passively allocating volumes and delivered a firm message that it strongly raised the possibility of violating the FTA and was willing to take retaliatory measures. As a result, it is evaluated that Korea has reached a practical agreement to avoid a 46% quota reduction plan, even amidst the trend of reducing overall import volume. This is a significant achievement that reverses the opponent's logic and defends national interests in trade negotiations, and is expected to serve as a buffer zone to minimize shock to the industry in combination with customized support measures for the steel industry in the future.

The issue of the maximum oil price system, which is directly related to energy security, is another difficult problem facing the government. With international oil prices still maintaining a high level, the government is maintaining a cautious attitude, suggesting strict termination conditions including the end of the war in the Middle East, normal passage through the Strait of Hormuz, and stabilization of oil prices at $90 per barrel. Minister Kim left open the possibility of lowering the maximum price itself, considering that international oil prices are in a downward trend, but judged that a hasty termination is risky as the risk premium in the supply chain has not yet been resolved. At the same time, the government is encouraging voluntary coexistence efforts by the private sector, such as 'Nice Gas Stations', and is exercising policy flexibility to induce a soft landing in market prices. This shows an aspect of a win-win economy in which suppliers, consumers, and the government work together to withstand the energy crisis.

Global order battles in the defense and future industries are also a fierce diplomatic battle. Our government, which is competing with Germany for orders for Canada's next-generation submarines, is confident that Korea has the upper hand in terms of technological prowess and competitiveness of industrial packages. However, we are aware that Canada's NATO alliance may act as a variable, and we are adopting a strategy of responding calmly until the results are known. In addition, regarding the issue of 'operating profit-based performance bonus', which has become a hot topic in the labor world, we have made clear the principle that investors' rights and interests must be protected. Pointing out loopholes in the current system that excludes investors' voices from the negotiation table between workers and management, and emphasizing the need for institutional supplementation through future revisions to the Commercial Act and the Capital Markets Act, this is expected to become a new topic in industrial labor-management relations in the future.

Lastly, the ‘Five Poles and Three Specials’ strategy for balanced national development is establishing itself as a key driving force for regionally-led growth. This grand design, which reorganizes the country into five super-metropolitan areas and three special self-governing provinces in order to resolve the unipolar system of the metropolitan area, is not simply a task of dividing administrative districts, but aims at a real economic transformation that increases self-sufficiency by attracting specialized industries and companies to each region. Minister Kim is working in close consultation with local governments to develop customized support packages with key industries, which will gain full momentum after the local elections. When external opportunity factors, such as investment projects in the United States and Middle East reconstruction projects, and internal regional economic revitalization strategies are aligned, Korea will be able to gain strong momentum to overcome the complex crisis.