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Seoul to announce measures to achieve job goal this year

All Headlines 10:07 October 14, 2018

SEOUL, Oct. 14 (Yonhap) -- South Korea is set to announce measures to help generate jobs this month as it aims to achieve the goal of creating up to 100,000 jobs in 2018, government sources said Sunday.

Finance Minister Kim Dong-yeon is expected to come up with the latest set of job-creation measures within this month after he returns from the Group of 20 finance ministers' meeting and the annual meetings of the International Monetary Fund and World Bank in Bali, insiders said.

"The employment rates during the winter months are not good given the records in the past five years. So the government is planning to provide internship opportunities at public companies to about 5,000 young jobseekers by December though they are temporary jobs which last one to five months," an official familiar with the matter told Yonhap News Agency.

In other measures, the government is also looking into a move to offer jobs for middle-aged people who retired early and are seeking to find work, as well as for elderly people who want to work for financial reasons, he said.

To encourage big companies, such as Samsung Electronics Co., SK hynix Inc. and Hyundai Motor Co., to make investments that often lead to job creation, the government is considering easing regulations and offering tax benefits, he said.

In the July-September period, the country's jobless rate stood at 3.8 percent, up 0.4 percentage point from a year earlier. And the employment numbers fell 0.3 percentage point to 61.1 percent during the same period.

This photo taken Oct. 12, 2018, shows an idle shipyard in Tongyeong, South Gyeongsang Province, due to low orders. (Yonhap)


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