The presidential committee on job creation has vowed to help the private sector create over 110-thousand new quality jobs by 2022 through innovation-led growth.
The committee's meeting on Wednesday was its first since it got a new vice chairman last month, Rhee Mok-hee, who laid out a roadmap to creating quality jobs.
He told reporters that the government's plans to raise the minimum wage, shift non-regular workers to regular status and reduce working hours have improved from a year ago when the committee was first launched.
But despite those achievements,… many young people still can't find work.
"Although the employment rate is on the rise, the number of young adults finding jobs is still low. This phenomenon is due to the the economy's worsening ability to create new jobs and the entry into the job market of the so-called echo-boom generation."
To fix that, Rhee hopes to further ease regulations on businesses that do create new jobs though methods including passing a supplementary budget.
"To resolve this situation, it is necessary to pass a supplementary budget that will make job creation easier. I urge the National Assembly to pass the budget and give hope to the nation's young adults."
And besides an extra budget,… the committee said young adults need innovative measures, like a platform for startup businesses.
The committee has announced plans to start a nationwide boom in innovative entrepreneurship by 2022… by holding audition-like business contests that can gather and support new startup companies regardless of their size or history.
Also, it has promised to create hubs to attract more than 60 venture companies that have sustainable and social objectives.
"There are currently 19 centers for social ventures nationwide, and the startup boom is starting to spread. But because the infrastructure for hubs are lacking outside the capital Seoul, we will try to create more centers to accomodate more new companies."
Job creation is the key to a fair economy. Socially, it would not only solve the problem of high youth unemployment, it would help raise the nation's low birth rate, and improve welfare and people's fundamental rights.
Those reasons are why the Korean government has made it its top priority.
Won Jung-hwan, Arirang News.