Gist of S. Korea’s 2018 economic policy plan

SEJONG, The following are the key economic policy measures planned for next year aimed at propping up growth in Asia's fourth-largest economy and improving quality of life.

Job-creating, income-led growth

- to create quality jobs by front-loading budget and overhauling investment schemes

- to narrow income disparity and reduce the cost of education, health care and other living costs

- to expand the social safety net and expand the income base for the underprivileged class

Innovative growth

- to spearhead key leading industries for innovative growth

- to expand major infrastructure through innovation in the financial sector, labor market

- to promote innovation overall in sectors such as services and agriculture

- to nurture innovative smaller firms by providing support

Fair economy

- to prevent unfair transactions practices

- to improve corporate ownership structures through a stewardship code

- to seek balanced regional growth

Mid-to-long term measures

- to reverse the low birth rate through tailored measures

- to encourage economic participation by women

- to resolve the poverty of elderly citizens

Macroeconomic stabilization

- to maintain or expand economic growth

- to take preemptive measures against internal and external risks

Source: Yonhap News Agency

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