South Korea's Yoon takes responsibility for missteps after 2 years in office

FILE PHOTO: South Korean President Yoon Suk-yeol gives a speech on the government budget at the National Assembly in Seoul, South Korea, 31 October 2023. JEON HEON-KYUN/Pool via REUTERS/File Photo

SEOUL (Reuters) -South Korean President Yoon Suk Yeol said on Thursday his government's efforts to improve people's lives had fallen short, conceding a crushing election defeat for his ruling party last month reflected voters' assessment of his two years in office.

As part of a major policy push, Yoon also said a new government ministry would be created to address the country's record low birth rate and fast-ageing society.