President Moon Jae-in has raised the need to review extending the age of retirement, currently at 60, in response to the sharp cut in the working-age population.
"The project for senior jobs this year will be expanded. For the elderly, it will involve welfare and longer social participation. I believe that the time has come to begin reviewing the extension of the retirement age."
President Moon was briefed on this year's policy goals at the Blue House on Tuesday by three ministries, including the Ministry of Employment and Labor.
The president's remarks on the prolongation of employment echoes what the government had said repeatedly last year.
Last September, the government said it will review a new policy that ensures companies allow employees aged 60 or over to continue working.
President Moon also made a promise last October, to adjust the age limit so that seniors can work for longer.
But according to a senior Blue House official, the country's retirement age was not discussed later during the event.
The administration revealed that it will come up with related measures within its term.
President Moon pointed to jobs as his administration's most important task.
In the hope of minimizing the economic effects of the novel coronavirus, he called on the government to draw up countermeasures for the industries that are most vulnerable.
"The manufacturing, tourism and service sectors, whose production processes are linked to China, are likely to be affected immediately by the novel coronavirus outbreak. The outbreak could also put a strain on employment. I ask that you consider this and be more alert in coming up with plans regarding employment and the economy."
President Moon said it's up to businesses to create high-quality jobs.
He emphasized that they should create new growth engines by nurturing industries like bio-health, future cars and system semiconductors.
And turning to the environment and agriculture sectors
the president said the green industry has a market size of 1.2 trillion U.S. dollars three times that of semiconductors showing the need to help Korean firms in the sector grow.
He also stressed the need to expand Korea's smart agriculture industry, while pioneering new export markets for K-food.
Park Hee-jun, Arirang News.