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S. Korean Finance Ministry outlines key policy directions for 2021 Updated: 2021-01-19 10:02:08 KST


South Korea's Finance Ministry has outlined its policy directions and key projects for this year with the goal of recovering from the COVID-19 economic crisis and building an innovative and inclusive nation.
In a statement released on Tuesday, the Finance Ministry said that it will focus on five key policy directions in 2021.
One of the key policy directions is to reduce the risks and damage caused by the pandemic.
This includes providing financial aid for disinfection work and vaccinations.
The ministry will support efforts to secure enough vaccines to inoculate around 56 million people by February and provide shots for the whole nation free of charge.
Funds will also be used to financially support small business owners and workers across the nation who have been hit hard by the pandemic.
The third round of COVID-19 relief funds will be rolled out before Seollal, South Korea's Lunar New Year holidays.
Another key policy direction is to go all out for a fast and strong economic recovery.
The Finance Ministry will maintain its expansionary fiscal policy to give a boost to the economy and will execute around 63 percent of the 2021 budget in the first half of the year.
The ministry will also expand investment in companies in both public and private sectors through projects worth 100 billion U.S. dollars.
It plans to boost consumption by providing incentives and issuing discount coupons worth about 16 billion dollars in total.
It also plans to use 19 billion dollars of this year's budget to realize the Korean New Deal initiatives on creating jobs in digital and green industries, as well as working on going carbon neutral.
The other key objectives are making the public sector more innovative and building a more inclusive society by creating more than a million jobs for the socially vulnerable.
Eum Ji-young, Arirang News.
KOGL : Korea Open Government License
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