Seoul, South Korea – The South Korean government is accelerating its job creation programs in response to a recent surge in unemployment. The Ministry of Employment and Labor and the Ministry of Economy and Finance announced today that they will be expediting the execution of direct job creation projects, aiming for a record-high execution rate of 43% in the first quarter of this year.
"We will concentrate all our policy efforts to stabilize the employment situation in January and February," said Kim Min-seok, Deputy Minister of Employment and Labor. The government has selected 136 projects and allocated 16.2 trillion won (approximately US$12.8 billion) to fund these initiatives.
To provide immediate relief to vulnerable groups such as the elderly, the government is working closely with related agencies to ensure that at least 64.5% of direct job creation project participants, amounting to 790,000 individuals, are employed by January.
Addressing the severe job shortage in the construction industry, the government pledged to implement additional measures to enhance job support for workers in this sector.
Kim Beom-seok, First Vice Minister of Economy and Finance, stated, "Centered around the job inspection team, we will swiftly promote customized job support measures tailored to specific industries and demographics. We will also closely monitor the execution performance to exceed the target for rapid hiring in direct job creation projects."
In March, a large-scale job fair is scheduled to be held, inviting promising small and medium-sized enterprises, large companies, and foreign firms. The event will feature mentoring sessions by current employees to provide valuable career guidance to job seekers.
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