Prime Minister Jeong: "More Bold and Proactive Employment Measures Are Urgently Needed"

Discussion and Announcement of Employment Stability Measures at Tomorrow's Emergency Economic Meeting

Prime Minister Chung Sye-kyun is delivering a speech at the Cabinet meeting held at the Government Seoul Office in Jongno-gu, Seoul on the 21st. Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Kwangho Lee] Prime Minister Chung Sye-kyun said on the 21st, "More bold and proactive employment measures are urgently needed to protect jobs, which are the foundation of the livelihood economy."

On the same day, Prime Minister Chung presided over the 20th Cabinet meeting held at the Government Seoul Office and stated, "While thorough quarantine is important, overcoming the economic crisis caused by the novel coronavirus infection (COVID-19) is also an urgent task. In particular, the employment situation is very severe."

Prime Minister Chung explained, "In March, the total number of employed people decreased by about 200,000 compared to the same month last year, marking the largest decline since the 2009 financial crisis. The damage was significant among vulnerable groups in the employment safety net, such as those in the service industry, temporary and daily workers, and self-employed individuals."

He continued, "Considering domestic and international conditions such as domestic demand contraction and global economic recession, the shock could spread to other industries and social classes," emphasizing, "More bold and proactive employment measures are urgently needed."

He added, "At today's Cabinet meeting, we will present the 'Amendment to the Enforcement Decree of the Employment Insurance Act,' which raises the support level of employment maintenance subsidies to up to 90% of leave and suspension allowances," and mentioned, "Employment stabilization measures will also be discussed and announced at the emergency economic meeting to be held tomorrow."

Prime Minister Chung urged, "The Ministry of Employment and Labor and related ministries should devote all efforts with extraordinary determination to protect jobs, the foundation of the livelihood economy," and requested, "Please check whether the previously announced fiscal and financial support measures for employment stabilization are properly implemented, and promptly supplement any deficiencies."

Furthermore, he asked, "Please vigorously promote additional measures for employment maintenance, unemployment support, and emergency job creation, as well as support plans by industry," and requested, "Actively publicize various support measures so that companies and workers are aware of and benefit from them, and strengthen cooperation with local governments working on the ground."

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