Gov't unveils supplementary budget plan for jobs for National Assembly review 2022

April 24, 2022

일자리 추경안 수요일 국회 제출
Korea’s finance ministry is preparing to hand its supplementary budget proposal to the National Assembly.
The Moon administration’s plan aims to create thousands of new jobs for Koreans and improve working conditions across the board.
Oh Soo-young takes a closer look at the numbers.
Creating quality jobs for everyone is the overarching theme of the government’s supplementary budget plan.
The finance ministry has drawn up a proposal to inject nearly ten billion U.S. dollars into the employment market.
A third of it will be allocated to directly creating new jobs — 71-thousand of them in the public sector.
This includes bureaucratic positions, social services and some 59-thousand jobs for senior citizens.
The government aims to add another 15-thousand private sector jobs by supporting start-ups and especially small and medium businesses, which are currently severely understaffed due to their comparatively low standard of wages and working conditions.
This is despite the country’s youth unemployment rate,… which hit eleven-point-two percent last month– being at an all-time record for the month of April.
To overcome this mismatch, the budget plan proposes subsidizing three-years’ worth of wages for one out of every three young workers hired.
Another major portion of the budget will be dedicated to improving job and income-security across all working age groups, from youth to middle-aged and elderly workers, with various forms of financial aid.
Female workers will also be guaranteed more income during maternity leave and childcare support, as well as entrepreneurial and life-long learning schemes.
Beyond the workplace,… two billion dollars will be set aside to improve living standards for the working class.
These include expanding dementia prevention centers,… residential subsidies for youth and infrastructure for environmental mitigation.
Along with an extra three billion dollars for local governments and their own efforts for job creation initiatives,… an additional 24-thousand new positions could be generated indirectly in the private sector — bringing the total number of new jobs to about 110-thousand.
The government says the scheme will be covered by various pools of funds and tax surpluses,… without the need to raise extra credit by selling government bonds.
However, the proposal must be approved by the National Assembly.
President Moon Jae-in and members of the ruling Democratic Party have called on lawmakers to approve the budget before the end of the month.
Oh Soo-young, Arirang News.

Visit ‘Arirang News’ Official Pages


Click to rate this post!
[Total: 0 Average: 0]
We will be happy to hear your thoughts

Leave a reply

Reviews We Trust
Register New Account
Reset Password