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PM Chung Stresses Need to Mobilize Economic Revitalization

Written: 2020-05-04 11:54:33Updated: 2020-05-04 13:44:12

PM Chung Stresses Need to Mobilize Economic Revitalization

Photo : YONHAP News

Prime Minister Chung Sye-kyun stressed that now is the time to mobilize all efforts toward revitalizing the economy while staying vigilant with quarantine measures.

At a Cabinet meeting on Monday, Chung said the most pressing steps would be to protect jobs and revive domestic demand through spending.

Chung pointed out that the number of workers plunged by some 230-thousand in March on-year, while production in the service sector fell by the biggest margin of four-point-four percent on-month.

Referring to the government's employment stability relief for those with no insurance benefits, Chung ordered officials to put forth additional economic measures in the face of the unprecedented crisis. Financing for the relief will come from the state reserve fund.

The prime minister also urged the parliament to swiftly handle pending livelihood bills before the current 20th Assembly ends on May 30.

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