Finance Minister Hong Nam-ki said on Friday that the government will release measures to stabilize the job market next week, noting a sharp deterioration of job conditions in the service industry. 

Minister Hong held a meeting with top officials in charge of employment policies, including the labor minister and presidential secretaries on economy and jobs.

They reportedly evaluated the situation and impact of the COVID-19 pandemic on the local job market and the government's future responses. 

The top officials assessed that the coronavirus has dealt a harsh blow to employment in the service sector, including restaurants, hotels and retailers and wholesalers, with temporary workers and self-employed people hit hardest. 

The officials agreed that the grim condition is likely to spread to other industries in light of domestic and foreign economic conditions.