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S. Korean gov't to continue efforts to bolster economy

(Xinhua)
Updated: 2009-01-14 15:32

SEOUL -- South Korean government will continue its efforts to create jobs and expand spending to boost the ongoing economic downturn, South Korean Finance Minister Kang Man-soo said on Wednesday.

"The economy is facing difficulties and the livelihoods of ordinary people are suffering," Kang 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."

In order to create jobs, the government said last week that it will invest 50 trillion won ($37 billion ) in dozens of eco-friendly projects in the next four years. On Tuesday, it also announced a large-scale investment plan to develop core industries to promote the nation's economic growth.

South Korean economy, struck by global financial crisis, is showing many signs of slowing down at a fast clip. Job market remained stagnant with job creation dropping to a 5-year low in November.