The Korean economy is improving due to strong export growth, especially in semiconductors, while domestic demand remains weak. High interest rates and rising delinquency rates are hindering domestic demand, leading to declines in retail sales and equipment investment. Despite sluggish domestic demand, the trade surplus is sustained as imports decrease due to weak consumer goods consumption.

KDI President Cho emphasized the need for a flexible social system and government support to adapt to AI-driven technological innovation, focusing on enhancing total factor productivity through the appropriate reallocation of resources and the development of new technologies. He highlighted that protecting people (not businesses) and encouraging competitive companies, while managing social conflicts and reforming education and labor markets, are crucial for economic prosperity.

During the 2024 Korea-Africa Summit KDI GKEDC Technical Tour, Dr. Kang provided tours and held meetings with President Samia Suluhu Hassan of Tanzania, President Mokgweetsi Masisi of Botswana, and Foreign Minister Mulambo Hamakuni Haimbe of Zambia to discuss Korea’s economic development and opportunities for cooperation. The visiting delegations expressed admiration for Korea's economic development model and technological advancements.