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Gov't to spend more for convenience facilities, social safety infrastructure

All Headlines 15:00 August 08, 2018

SEJONG, Aug. 8 (Yonhap) -- South Korea's government plans to increase its spending for convenience facilities and social safety infrastructure as part of an ongoing effort to boost quality of life and the domestic economy, the finance ministry said Wednesday.

According to the ministry, over 7 trillion won (US$6.26 billion) will be spent next year to construct more electric vehicle charging stations, smart factories and community gyms.

The figure is up 1 trillion won from the budget earmarked for this year.

The measure came after President Moon Jae-in ordered the government to boldly expand its spending on new infrastructure projects that are closely related to public welfare and new jobs.

Such projects, he said, may help realize three government objectives of creating new jobs, improving the livelihoods of the people and promoting the balanced development of the nation.

Earlier, Finance Minister Kim Dong-yeon also said the government will review the current plan to slash a budget for social infrastructure next year.

"That's because social infrastructure projects have a far-reaching impact on the regional economy and help stabilize the job market," Kim said.

The budget earmarked for social infrastructure is set at 19 trillion won for the year, down from 22.1 trillion won in 2017.

Gov't to spend more for convenience facilities, social safety infrastructure - 1

sam@yna.co.kr
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