South Korea aims to create 300,000 service sector jobs by 2025
The South Korean government aims to create some 300,000 jobs in the service sector by 2025, according to its finance minister.
Under the new plan, the government aims to help small shop owners and firms set up a smart business system to support their transition into contactless operations.
“The country’s service industry has lagged behind the manufacturing sector in terms of productivity and innovation,” Finance Minister Hong Nam-ki said at a government meeting on the economy last week, reports Yonhap News Agency.
The country’s service sector took a hard hit amid the pandemic as people have refrained from shopping and dining out. In 2020, South Korea’s service output fell 2% year-on-year, a steeper decline than its industrial output, which fell by 0.8%, according to official data.
Once the number of COVID-19 cases is under control, the government intends to resume distributing vouchers and coupons to boost consumption for cultural and sports facilities, as well as accommodation and F&B services.
“The government will push to expand the use of online coupons in a bid to boost private consumption amid the pandemic,” said First Vice Finance Minister Kim Yong-beom at a press briefing.