President Moon briefed by finance minister on S. Korea's economic situation
  • 5 years ago
February's jobs report showed a rise in employment in South Korea.
But President Moon Jae-in says, in terms of job creation, the country's private sector is still falling short.
On Wednesday, the president held a meeting with his finance chief and asked for greater efforts to turn things around -- with a keen focus on "innovation."
Shin Se-min reports.
After assessing the state of the domestic economy, President Moon Jae-in has again stressed the need to churn out more jobs.
He'd met with Finance Minister Hong Nam-ki about economic conditions,... and the president reportedly ordered his top economic policymaker to do his best to create more jobs in the private sector.
The presidential spokesperson said that the meeting was about the employment situation in the private sector and that the president said that despite the rise in employment in February,... job creation in the private sector is still falling short.
So he asked the minister to do everything he can to promote innovative growth.

Together the president and the finance chief reportedly went over ways to keep the country's exports and investment from falling behind.
President Moon also ordered his economic team to work to revitalize of economy and to improve the job market by making sure that major players in the economy see an improvement in sentiment and achieve results.
The president ordered Hong to introduce his new deregulation framework to other ministries,... something businesses had demanded earlier this year when they met with the president -- because it had been proven to help with breaking unnecessary regulations.
Under the new framework,.. the burden is on the government to prove the need for a given regulation -- while in the past,... consumers or businesses would have to prove the need to get rid of it.
The president had previously expressed the need to develop the country's traditional economic pillar -- manufacturing -- as a way to revive the economy.
Shin Se-min, Arirang News.
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