Government to invest over US$ 23 bil. to cultivate job creation in South Korea
- 6 years ago
The Ministry of Trade, Industry and Energy and its affiliated public institutions plan to invest more than 23 billion U.S. dollars over the next few years to boost job creation.
The ministry will use the enormous amount of money -- equivalent to nearly one-and-a-half percent of the country's GDP -- to boost job creation amid the nation's employment crisis.
It also said it will expand its 700-million dollar budget by nearly 40 percent to foster a more accommodating labor market,.. especially for young people.
The five year plan includes providing incentives for companies with excellent track records on job creation.
The ministry says it expects the plan to create 120-thousand new jobs by the end of 2022.
The ministry will use the enormous amount of money -- equivalent to nearly one-and-a-half percent of the country's GDP -- to boost job creation amid the nation's employment crisis.
It also said it will expand its 700-million dollar budget by nearly 40 percent to foster a more accommodating labor market,.. especially for young people.
The five year plan includes providing incentives for companies with excellent track records on job creation.
The ministry says it expects the plan to create 120-thousand new jobs by the end of 2022.