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Finance minister urges preparations for economic policy measures

Economy 16:21 March 22, 2021

SEOUL, March 22 (Yonhap) -- Finance Minister Hong Nam-ki instructed officials Monday to thoroughly prepare policy measures to buttress an economic recovery and prop up the sluggish job market in the second quarter.

Hong plans to preside over a ministerial meeting this week to check policy plans in the second quarter that will focus on creating jobs and stabilizing the people's livelihoods, according to the finance ministry.

The South Korean economy is on a recovery track on the back of strong exports. But domestic demand and the job markets remain sluggish due to the fallout of the COVID-19 pandemic.

Job losses eased in February from the previous month, but the country reported fewer jobs for the 12th straight month amid slumps in the service sector.

Without elaborating, Hong also said in his message to senior officials that the country needs to strengthen policy options in response to the accelerating recovery of the global economy.

This photo, provided by the Ministry of Economy and Finance on March 22, 2021, shows Finance Minister Hong Nam-ki (R) presiding over a meeting with senior ministry officials at the government complex in the administrative city of Sejong. (PHOTO NOT FOR SALE) (Yonhap)


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