High unemployment, sluggish job growth and a widening wealth gap... these are some of problems that Korea's economy has been facing for awhile now...
And putting their heads together on Monday,... the country's top economic policymakers said they will do their best to get the economy back on track.
Kim Hyesung reports.
South Korea's finance chief says the government will do its utmost to resolve high unemployment and uneven income distribution in the country.
At an economic-related ministers' meeting on Monday, Kim Dong-yeon said job data and unequal income distribution have worsened and he vowed to swiftly implement policies announced in July and August to support the self-employed and those in the lower income classes.
The policymakers also discussed measures to create jobs for people in their 50s and 60s, and lowering toll fees on private highways.
The minister's remarks came a day after Jang Ha-sung, the Presidential Chief of Staff for Policy, reaffirmed his commitment to keep pushing the administration's so-called "income-led growth" policy.
Speaking to reporters on Sunday, Jang said recent dismal economic data, including slow job growth, is not a result of the administration's economic policies like the minimum wage hike, but a problem related to Korea's existing economic structure in which growth has not spurred higher wages or greater corporate investment.
He added the previous policy of relying on exports and big conglomerates has failed to make life better for all Koreans.
It's the first time in seven months that Jang has called a press conference, showing the Moon administration's commitment to accelerate its economic policies to raise household income and expand welfare for those in need.
Kim Hyesung, Arirang News.