The ruling Democratic Party of Korea (DPK) and the government on Wednesday pledged to maintain a "proactive" fiscal policy this year in a bid to prop up private consumption and revive the economy. Finance Minister Koo Yun-cheol said the government will put its focus on supporting people's livelihoods and self-employed people through a "proactive fiscal policy, including boosting total demand." Koo made the remarks as the government and the DPK held a meeting on this year's economic policies. Koo stressed that the government will foster the semiconductor, defense and biotechnology industries while stepping up the transition to an ultra-innovative economy driven by AI transformation and green transition. The government will spare no effort to overcome challenges, such as rising protectionism, disruptions in global supply chains and the weakening of traditional industries, Koo added.