S. Korea to continue efforts to bolster economy: minister

SEOUL, Jan. 14 (Yonhap) -- South Korea's economy remains under strain and the
government will continue its efforts to create jobs and expand spending to turn
things around, a top economic policymaker said Wednesday.

"The economy is facing difficulties and the livelihoods of ordinary people are
suffering" Finance Minister Kang Man-soo told a crisis management meeting. "To
turn things around, the government will do its utmost by creating jobs through
diverse projects and pushing to front-load spending."
Last week, the government said that it will invest 50 trillion won (US$37
billion) in dozens of eco-friendly projects through which it aims to create
960,000 jobs over the next four years. On Tuesday, it also unveiled a large-scale
investment plan to develop core industries for the nation's sustained economic
growth.
South Korea's economy is showing many signs of slowing down at a fast clip, hit
by slackening domestic demand and slumping exports amid global recession woes.
Job market remained stagnant with job creation slumping to a 5-year low in
November.
In mid-December, the government said it would strive to achieve 3 percent growth
this year but many experts say that goal is too optimistic. Some investment banks
forecast the first recession in more than a decade for Asia's fourth-largest
economy.
"We need to make more efforts than usual to succeed in winning the ongoing
survival game," Kang said. "With hope, we have to make preparations for the
future, which will help us turn the crisis into an opportunity in the end."
kokobj@yna.co.kr
(END)