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Gov¡¯t earmarks 2.9 trillion won for jobless this year

Gov¡¯t earmarks 2.9 trillion won for jobless this year

Posted January. 16, 2001 19:48,   


The government has decided to inject a total of 2.9 trillion won this year in job training and public works projects intended to benefit 207,000 unemployed people. In the long term, the government will make intensive efforts to foster new industries through investments in social overhead capital (SOC) projects, and the information and communications and culture and tourism sectors, thereby creating about 400,000 jobs and achieving its goal of keeping the nation¡¯s jobless rate within the 3-percent range.

The Labor Ministry unveiled a comprehensive package of unemployment measures for this year Tuesday, following consultations with related authorities such as the Ministry of Finance and Economy and the Ministry of Planning and Budget. The package is to be adopted after discussions between the government and the ruling party.

Kim Jae-Young, director of the employment policy department of the Labor Ministry, said that the government would implement short-term measures such as public works projects in the first quarter of this year. It plans to gradually reduce the projects in favor of stabilizing the employment structure through measures such as fostering industries with growth potential and expanding the social safety net.

From January until March, a period in which the number of jobless people usually increases due to seasonal factors, the government will provide public works jobs for 181,000 people.

It will also place orders for more than 90 percent of SOC-related construction projects such as roads, subways and airports ahead of schedule and push for housing renovation work on outdated residential areas so as to create jobs for some 50,000 jobless people.

Officials said that a budget of about 14.6 trillion won was set aside for the SOC projects.

In the mid- and long-term, the government will raise an additional 1 trillion won for venture firms this year and increase investment in constructing super-high-speed communication networks, promoting the film industry and developing a tourism belt along the South Coast.

Kim Joon-Seok kjs359@donga.com