Bang Gi-seon "Comprehensive Inter-Ministerial Plan to Address Population Crisis to be Announced in December"

[Asia Economy Sejong=Reporter Kim Hyewon] Bang Giseon, First Vice Minister of the Ministry of Economy and Finance, stated on the 14th, "We plan to select key tasks to respond to the population crisis and finalize and announce a comprehensive inter-ministerial plan in December."

Vice Minister Bang chaired the 3rd meeting of the 'Task Force (TF) for Responding to the Population Crisis' at the Government Seoul Office and said, "We are closely cooperating with the Low Fertility and Aging Society Committee centered on the 11 working groups within the Population Crisis Response TF."

Vice Minister Bang explained, "We will initiate social discussions on structural reform tasks involving various stakeholders," adding, "We will promptly prepare a mid-term teacher supply and demand plan in response to the decline in school-age population and support measures for structural reform of private universities, actively discuss easing regulations on foreign workforce recruitment, establish directions for mid- to long-term immigration policies, introduce a system for continued employment of the elderly, and reform welfare systems."

He continued, "We will swiftly devise specific supplementary measures for policy blind spots," and said, "We will continuously identify and promptly improve tasks requiring supplementation according to changes in economic and social environments, such as reviewing the payment of parental leave benefits for vulnerable employment groups and resolving the care gap through the establishment of full-day elementary schooling."

Vice Minister Bang also emphasized, "Based on policy effectiveness analysis, we will supplement existing policies and boldly redesign systems if necessary," adding, "We will maximize policy effects and enhance public perception through performance analysis of existing low fertility policies, research on ways to improve the effectiveness of child-rearing and childcare support systems, and policies responding to regional extinction."

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