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Cabinet Approves 11.2 Trln Won Extra Budget Plan Focused on Job Creation

Written: 2017-06-05 09:04:11Updated: 2017-06-05 16:00:18

Cabinet Approves 11.2 Trln Won Extra Budget Plan Focused on Job Creation

Anchor: The government has drafted an extra budget plan focused on creating jobs. The eleven-point-two trillion won supplementary budget plan was approved on Monday, with a large chunk of the fund planned to go toward the creation of over 70-thousand public jobs.
Our Alannah Hill has this report.
 
The Cabinet on Monday approved an eleven-point-two trillion won, or 10 billion dollars, supplementary budget plan. The plan will be submitted to the National Assembly on Wednesday.
 
Citing the real youth unemployment rate is up to 24 percent, the government noted the country’s job market remains in the doldrums. It said it has arranged the extra budget plan to lay the groundwork for economic growth that creates many jobs.  
 
Specifically, the government plans to inject four-point-two trillion won into the creation of 71-thousand public jobs, including 12-thousand public officials, such as police officers and firefighters.
 
Twenty-four-thousand jobs will be created in the social services sector, including teachers at daycare facilities, while 30-thousand jobs will be added through short-term labor contracts for public services.
 
The budget will also be spent creating 15-thousand jobs at small- and mid-sized companies through a scheme in which the government pays the salary of one of every three new young employees.
 
More than a trillion won will be injected to create government funds related with startups or the fourth industrial revolution, including 500 billion won into a youth startup fund, as well as 300 billion into a comeback fund for failed startups and 400 billion to fund the fourth industrial revolution.
 
Parts of the budget will also be spent to stabilize the livelihoods of the working classes. The government will build 252 dementia support centers across the country to assist dementia patients while building new hospitals dedicated to those suffering from the degenerative illness.  
 
The government will also use some budget in building 27-hundred rental homes for the young population, equipping elementary schools across the country with measuring instruments for fine dust, erecting screen doors at subway platforms and replacing old lighting in public organizations.
Alannah Hill, KBS World Radio News.

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