Anchor: The government’s job creation committee, under the direct supervision of President Moon Jae-in, announced a comprehensive five-year road map on job policies on Wednesday. The blueprint calls for creating 810-thousand jobs in the public sector as well as boosting the number of jobs in the private sector.
Plans include expanding the number of firms allowed to forgo mutual guarantors when taking on government-financed debt. The government will also allow professors to take longer leaves of absences for launching startups. Ex-post regulations will be implemented for future-oriented industries such as those in the environment-friendly, smart car, drone and ICT sectors.
Kim In-kyung has more on the policy, which consist of five core fields.
Report: The plan calls for creating 810-thousand jobs in the public sector and establishing a state governance system centered on employment.
The ruling Democratic Party's chief policymaker Rep. Kim Tae-nyeon said the road map consists of 100 policy tasks in ten key areas of five fields.
The five fields include employment infrastructure, public and private sector job creation, improvement of job quality and support for customized jobs.
The announcement comes as young South Koreans are facing ever more difficulties finding jobs.
According to Statistics Korea on Wednesday, the real unemployment rate for young people increased zero-point-two percentage points to 21-point-five percent last month. The figure is the highest to date for September since relevant statistics began being recorded in 2015.
On a brighter note, however, growth in the number of newly employed people recovered above the 300-thousand mark. The employment rate rose three-tenths of a percentage point on-year to 61-point-three percent and the jobless rate fell two-tenths of a percentage point to three-point-four percent.
Kim In-kyung, KBS World Radio News.