Concerning Vision 2030, the government will use Vision 2030 announced just two days ago, August 30, as a base in building a broad-based national consensus. We will formulate a forward-looking long-term national development strategy on it. The year 2020 will mark a milestone in contemplating a new paradigm for the Korean economy. Around 2020, Korea's population is projected to start reducing and a substantial number of the first baby-boomer generation will have retired by then. This will inevitably dwindle the national savings. Against this backdrop, Vision 2030 is a policy exercise of designing a new paradigm of the Korean economy looking 10 years ahead after 2020, by identifying and mapping out institutional reform tasks in advance. The vision 2030 is also a shared growth strategy balancing growth and welfare. It is our target to reach, in 15 years' time horizon, the welfare level of some OECD peers, particularly the USA and Japan, who are ranked a few notches higher than Korea in public social expenditure as percentage of GDP. I believe this is a very reasonable measure to upgrade our welfare on par with advanced countries, while keeping our growth potential intact.