Vice Minister Ki Jae: "Downward Pressure on the Economy Is by No Means Light"

The 17th Innovation Growth Strategy Review Meeting and Policy Review Meeting

[Asia Economy Reporter Jang Sehee] Kim Yongbeom, First Vice Minister of the Ministry of Economy and Finance, said, "The continued trend of an expanding decline in manufacturing employment and a slowdown in the increase of regular employment reminds us that the downward pressure on the economy we are facing is by no means light."

On the morning of the same day, Vice Minister Kim chaired the 17th Innovation Growth Strategy Review Meeting and Policy Review Meeting at the Government Seoul Office, stating, "The difficulties faced by self-employed individuals and youth continue."

He explained, "Currently, recruitment announcements are underway for 115,000 public sector non-face-to-face and digital jobs," adding, "Local governments have finalized project plans for 300,000 public jobs for vulnerable groups, and participant recruitment is planned for July." Furthermore, he added, "110,000 youth digital jobs and work experience support positions, mainly operated by private companies, will be implemented from the end of July."

He emphasized, "Protecting jobs during a crisis is a priority measure to reduce the overall economic shock," and stressed, "It is necessary to block the transmission of supply shocks caused by the epidemic into demand shocks such as decreases in consumption and investment."

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