S. Korean government unveils new measures to boost job creation and economy
- 6 years ago
정부, 청년인턴 등 단기 공공일자리 5만9천개 만든다...유류세 인하도 발표
Many South Koreans have been struggling to find work in the grim employment market.
Last month the overall jobless rate hit 3-point-6 percent…marking its highest point in 13-years... for September.
Today, the government unveiled some new measures to tackle the problem.
Ko Roon-hee has our top story.
At a meeting for ministries related to the economy on Wednesday, Korea's finance minister Kim Dong-yeon explained how the government is going to create more jobs.
He vowed to create 59-thousand jobs for youths, people in their 50s and 60s, and the elderly, but didn't confirm an exact timeline.
Jobs will be created mainly in central government, public institutions, and local governments.
He also announced plans to boost private investment.
Private sector-led investment will take place faster than scheduled, and more than 13-point-2 billion U.S. dollars' worth of financial aid will be provided to help companies boost investment.
Experts are divided on how this will improve the economic situation in Korea.
"Much effort is required to boost investment... because the number of employed people will naturally increase afterwards. That is why the government's plan includes encouraging private investment."
"Without reforms that could fundamentally change our current economic structure, which is mainly centered on large conglomerates, these measures won't be effective."
The finance chief also said the ministry will speed up innovative growth by embracing the sharing economy,... creating new markets for products and services.
For instance, the government will provide measures to boost new transportation services and expand the scope of accommodation sharing.
And as part of efforts to ease the burden of rising global oil prices on small business owners and households, the government said it will cut domestic transport fuel taxes by 15-percent for six months, starting November 6th.
"The government says it’s closely monitoring the economic situation at home and abroad, including the intensifying trade tensions between the U.S. and China. And it plans to announce a comprehensive economic plan for next year in December.
Ko Roon-hee, Arirang News."
Many South Koreans have been struggling to find work in the grim employment market.
Last month the overall jobless rate hit 3-point-6 percent…marking its highest point in 13-years... for September.
Today, the government unveiled some new measures to tackle the problem.
Ko Roon-hee has our top story.
At a meeting for ministries related to the economy on Wednesday, Korea's finance minister Kim Dong-yeon explained how the government is going to create more jobs.
He vowed to create 59-thousand jobs for youths, people in their 50s and 60s, and the elderly, but didn't confirm an exact timeline.
Jobs will be created mainly in central government, public institutions, and local governments.
He also announced plans to boost private investment.
Private sector-led investment will take place faster than scheduled, and more than 13-point-2 billion U.S. dollars' worth of financial aid will be provided to help companies boost investment.
Experts are divided on how this will improve the economic situation in Korea.
"Much effort is required to boost investment... because the number of employed people will naturally increase afterwards. That is why the government's plan includes encouraging private investment."
"Without reforms that could fundamentally change our current economic structure, which is mainly centered on large conglomerates, these measures won't be effective."
The finance chief also said the ministry will speed up innovative growth by embracing the sharing economy,... creating new markets for products and services.
For instance, the government will provide measures to boost new transportation services and expand the scope of accommodation sharing.
And as part of efforts to ease the burden of rising global oil prices on small business owners and households, the government said it will cut domestic transport fuel taxes by 15-percent for six months, starting November 6th.
"The government says it’s closely monitoring the economic situation at home and abroad, including the intensifying trade tensions between the U.S. and China. And it plans to announce a comprehensive economic plan for next year in December.
Ko Roon-hee, Arirang News."