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BOK Chief: Economic Policies Must Target Employment

Written: 2016-03-25 09:40:21Updated: 2016-03-25 16:28:48

BOK Chief: Economic Policies Must Target Employment

The head of South Korea's central bank has emphasized job stability as the most important aim of economic policies.

The remark by Bank of Korea(BOK) Governor Lee Ju-yeol was made during talks on the economy at the BOK headquarters in downtown Seoul on Friday. 

Lee addressed the country's rising youth unemployment rate citing February tallies. He said that job security was linked to the general welfare of the economy’s main players. Lee added that in turn, major central banks have targeted raising the employment rate with quality jobs when making big policy decisions.

The governor also stressed the need to prepare for the “fourth industrial revolution,” which he said would bring technological changes at the fastest rates ever.

The fourth industrial revolution embraces a hyper-connected economy based on the infrastructure of information and technology, and integrates human labor with machine, products and information.

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