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Finance ministry released guildelines for ministries to reflect President Moon's policies Updated: 2017-05-19 14:30:18 KST


The Ministry of Strategy and Finance has released guidelines for government ministries to reflect President Moon Jae-in's policies in their budget spending plans for next year.
The guidelines include his pledges related to job creation, achieving income-driven growth, and resolving issues concerning low birthrates and fine dust pollution.
The finance ministry says the priority should be to fund government-led projects highly likely to create new jobs, which was President Moon's number-one campaign pledge.
Regarding this, the ministry says it will work towards reducing inequality among jobs by converting irregular workers in the public sector to permanent, salaried workers while shortening overtime office hours.
The Moon administration believes its emphasis on job creation could induce a virtuous economic cycle that could ultimately lead to an increase in domestic consumption and corporate investment as disposable income among households increases.

(Korean )
"The real challenge, though, is to make sure the creation of new jobs in the public sector has a positive effect in the private sector as well. For instance, by increasing productivity in the private sector that will lead to more hiring."

The finance ministry says the 2018 budget amounts to 371.5-billion U.S. dollars, up about 16 billion dollars from this year's.
The ministry also says it advised to increase financial support for low-income earners to meet their life-long needs and improve the quality of their lives as well as expand the number of public child daycare centers nationwide.
Some parts of the original plan that ministries are instructed to keep include preparations for the so-called Fourth Industrial Revolution and resolving issues related to wealth polarization.
Government ministries have to submit their revised version of their 2018 budget plans to the finance ministry by the end of the month.
Kim Ji-yeon, Arirang News.
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