Seoul: The government of South Korea has introduced a comprehensive package of measures designed to enhance the productivity of its domestic service industry, positioning it as a new engine for economic growth. During an economy-related ministers' meeting in Seoul, Finance Minister Choi Sang-mok, who also serves as the deputy prime minister for economic affairs, announced the initiative. According to Yonhap News Agency, the measures aim to increase the service sector's value-added share in the national economy from approximately 63 percent in 2022 to 70 percent by 2035. This initiative is part of a larger strategy to boost the sector's contribution to the economy. A ministry official, requesting anonymity, noted that the value-added share had only modestly increased from 60.1 percent in 2010. The plan focuses on fostering emerging industries with growth potential, such as health care, tourism, and elderly care services. In the tourism sector, the government has committed to providing 2.5 trillion won (US$1. 78 billion) in preferential financing by 2029 to support the construction and remodeling of large-brand hotels. To simplify the management of the accommodation industry, currently regulated by various ministries and laws, a comprehensive bill will be introduced to reduce regulatory complexities. For elderly care services, the government plans to repurpose former school sites in urban areas to expand senior care facilities. To bolster service exports, a record-high 66 trillion won in export financing will be made available through 2029. Additionally, the government will identify 100 promising small and medium-sized companies in high-potential service sectors, offering them up to 750 million won each in vouchers over the next three years. To develop specialized talents in high value-added, technology-driven service fields, the government will expand vocational training programs, particularly in areas such as software development.