Ruling party, government agree to nuture industries with high growth potential
- 6 years ago
Lawmakers of the ruling party and officials from the presidential office and government got together this morning to talk about ways to foster new growth engines.... as well as to step up investment in promising sectors.
Kim Min-ji reports.
South Korea will concentrate its efforts to nurture industries with high growth potential -- as part of its efforts to create quality jobs.
During a policy coordination meeting on Thursday,... the ruling Democratic Party of Korea, the government and the presidential office agreed to step up investment in the country's biohealth, software and intellectual property sector,... especially in line with the so-called fourth industrial revolution.
"We need to foster future growth engines,... and this should be the basis of innovative growth and creating quality jobs. In order to meet the changing trends,... such as the aging population, low birth rate as well as developments in technology, we need a more active approach in fostering these industries."
The government plans to support R&D in these areas,... so cutting-edge technology can be incorporated into the pharmaceutical, medical appliance and cosmetic sectors.
It will also support young entrepreneurs starting their own businesses,... by stepping up investment and expanding financial support.
The plan entails boosting on-field education and training,... especially to nurture specialists in the field.
The detailed proposal will be unveiled by the presidential job commission next Tuesday.
The government also addressed concerns regarding the country's job market,... in light of recent data showing sluggish job growth.
Critics claim the government's income-led growth policies are dragging on the economy -- but the government reiterated it's on the right path, and its policies will start to bear fruit next year.
"I expect the job market to improve to some degree in the second half. The improvement will be made in earnest starting next year, and in the second quarter, the impact of the government's policy will be evident. About 250-thousand new jobs will be created in the second half of next year."
In the meantime, the ruling party and the government have vowed to keep close tabs on the economic situation,... and monitor the impact of the policies it's implemented and ensure the positive effects are being felt by the people.
The ruling party also promised to pass related bills and thoroughly review next year's budget to back the government's policy initiatives.
Kim Min-ji, Arirang News.
Kim Min-ji reports.
South Korea will concentrate its efforts to nurture industries with high growth potential -- as part of its efforts to create quality jobs.
During a policy coordination meeting on Thursday,... the ruling Democratic Party of Korea, the government and the presidential office agreed to step up investment in the country's biohealth, software and intellectual property sector,... especially in line with the so-called fourth industrial revolution.
"We need to foster future growth engines,... and this should be the basis of innovative growth and creating quality jobs. In order to meet the changing trends,... such as the aging population, low birth rate as well as developments in technology, we need a more active approach in fostering these industries."
The government plans to support R&D in these areas,... so cutting-edge technology can be incorporated into the pharmaceutical, medical appliance and cosmetic sectors.
It will also support young entrepreneurs starting their own businesses,... by stepping up investment and expanding financial support.
The plan entails boosting on-field education and training,... especially to nurture specialists in the field.
The detailed proposal will be unveiled by the presidential job commission next Tuesday.
The government also addressed concerns regarding the country's job market,... in light of recent data showing sluggish job growth.
Critics claim the government's income-led growth policies are dragging on the economy -- but the government reiterated it's on the right path, and its policies will start to bear fruit next year.
"I expect the job market to improve to some degree in the second half. The improvement will be made in earnest starting next year, and in the second quarter, the impact of the government's policy will be evident. About 250-thousand new jobs will be created in the second half of next year."
In the meantime, the ruling party and the government have vowed to keep close tabs on the economic situation,... and monitor the impact of the policies it's implemented and ensure the positive effects are being felt by the people.
The ruling party also promised to pass related bills and thoroughly review next year's budget to back the government's policy initiatives.
Kim Min-ji, Arirang News.