"Win-win type local jobs" solution to revive economy
- 5 years ago
South Korea's finance chief has unveiled new ways to expand the government's "win-win type local job" project.
This follows the success of such a model used in the southwestern city of Gwangju.
Hong Yoo reports.
Korea will look for 2 to 3 more regions to apply its "win-win type local jobs" model, which has already been implemented in Gwangju.
Also known as the Gwangju job project, it comes on the heels of Hyundai Motor's agreement with the city of Gwangju back in January...to set up a joint venture with the city... and build a car manufacturing facility.
Manufacturing and service industries located outside the Seoul metropolitan area can be eligible for this project regardless of their size.
The plan is to create customized jobs by inducing mutual cooperation among local economic players away from the central government-led employment policy.
The local and central governments will provide various incentives such as subsidies and tax benefits to participating firms.
Finance Minister Hong Nam-ki said the "win-win type local job" project will be a new breakthrough to Korea's economy.
Experts and local government officials will deliberate and evaluate new regions where the model could be implemented.
A detailed manual regarding this new model will be released around early March.
Hong Yoo, Arirang News.
This follows the success of such a model used in the southwestern city of Gwangju.
Hong Yoo reports.
Korea will look for 2 to 3 more regions to apply its "win-win type local jobs" model, which has already been implemented in Gwangju.
Also known as the Gwangju job project, it comes on the heels of Hyundai Motor's agreement with the city of Gwangju back in January...to set up a joint venture with the city... and build a car manufacturing facility.
Manufacturing and service industries located outside the Seoul metropolitan area can be eligible for this project regardless of their size.
The plan is to create customized jobs by inducing mutual cooperation among local economic players away from the central government-led employment policy.
The local and central governments will provide various incentives such as subsidies and tax benefits to participating firms.
Finance Minister Hong Nam-ki said the "win-win type local job" project will be a new breakthrough to Korea's economy.
Experts and local government officials will deliberate and evaluate new regions where the model could be implemented.
A detailed manual regarding this new model will be released around early March.
Hong Yoo, Arirang News.