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Gov't to Raise Quality of Life Through Fair Distribution of Economic Benefits

Written: 2017-12-27 15:00:01Updated: 2017-12-28 08:56:32

Gov't to Raise Quality of Life Through Fair Distribution of Economic Benefits

Anchor: As the country’s per capita income is poised to reach 30-thousand dollars for the first time next year, the government will exert all-out efforts to boost the people's quality of life. 
Our Bae Joo-yon has more.

Report: The government on Wednesday convened a meeting of economy-related ministers and finalized next year’s direction for economic policies.

The government believes that at the current rate of economic growth, the country’s real per capita national income will easily reach 30-thousand dollars next year.

With such projection, the government plans to exert best efforts to boost the people's quality of life by promoting job and income-led innovative growth and fair distribution of economic benefits.

According to the International Monetary Fund, as of October last year, only 27 out of 190 countries saw their per capita income top 30-thousand dollars. Out of countries that have a population of more than ten million, only ten had a per capita income of more than 30-thousand dollars.

Despite the rosy outlook, the issue of South Koreans' quality of life compared to the income level remains.

According to the Organization for Economic Cooperation and Development, South Korea came in 29th this year in terms of quality of life, slipping from 28th posted last year and 24th posted in 2012.

In a bid to improve people's quality of life, the government plans to realize a people-oriented economy by promoting growth led by jobs and income.

In the first quarter, the government will create 320-thousand jobs by frontloading its budget for creating jobs, hiring more people in the public sector and providing tax deductions to small companies that continue the employment of their female workers after maternal leave.

As other ways to raise the quality of life, the government will raise the minimum wage by 16-point-four percent to seven-thousand-530 won per hour next year and narrow the income gap between large and small businesses, between genders as well as between regular and nonregular workers. 
Bae Joo-yon, KBS World Radio News.

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