News ID: 216390
Published: 0541 GMT June 09, 2018

South Korean FM calls for corporate support in job creation

South Korean FM calls for corporate support in job creation
Finance Minister Kim Dong-yeon (L) talks with Shinsegae Vice Chairman Chung Yong-jin during a visit to Starfield, the country's largest shopping complex, in Hanam, east of Seoul, on June 8, 2018.

South Korea's top economic policymaker asked companies to do more to create jobs and spearhead innovative growth in the latest appeal to the business community to join the government's efforts to push for a more balanced and sustainable economy.

In a meeting with Shinsegae Vice Chairman Chung Yong-jin and top executives of affiliates of the business group in Hanam, just southeast of Seoul, Finance Minister Kim Dong-yeon stressed the importance of cooperation between the private sector and the government to usher in innovative growth, according to Yonhap.

In September 2016, Shinsegae Group opened the country's largest shopping complex in Hanam.

The Moon Jae-in government is preaching growth centered on innovation, which it claims will help Asia's fourth-largest economy secure potential growth and allow for sustainable expansion that can benefit everyone.

"We, as a retailer, always have a sense crisis, not only because of the uncertainties surrounding the economic environment but also because our consumers are quickly changing in keeping with the rapid growth of mobile shopping, overseas direct purchases and the increase in the number of single-person households," Chung said.

"Not only for the sake of our growth but also for the national economy, I believe that innovative growth centered on business groups is essential," he said.

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