Pres. Park highlights key economic goals: restoring middle-class & realizing creative economy
President Park on Thursday reiterated the two major focuses of her administration's economic policy: restoring the country's shrinking middle-class and realizing a creative economy.
During a meeting of the National Economic Advisory Council Thursday morning, President Park said her government would put top priority on increasing the middle-class to 70 percent of the nation's population and the employment rate to 70 percent.
She said the two goals go hand-in-hand, as employment will be the foundation for increasing the middle-class.
The president put forth some ideas to reach this goal: creating high-quality, part-time jobs, improving the working environment for women with children and supporting dual-income families.
President Park stressed that realizing a creative economy is not separate from her goal of increasing the middle-class, as the creative economy would play a key role in reaching a 70 percent employment rate, which is the basis for middle-class expansion.
The president pledged to set up a regulatory infrastructure so that individuals and the private sector can fully display their creativity.
Later in the day, President Park met with leaders of mid-sized enterprises and promised that support, such as in R&D and taxation, will continuously be provided even after small firms grow into mid-sized companies.
She said that she is well aware of the hardships they face, pointing out that 77 types of government support measures provided to small companies disappear all of a sudden after they grow into mid-sized enterprises, while 20 new regulations are imposed on them.
"President Park described mid-sized firms as the backbone of the economy, saying they greatly contribute to job creation and economic revitalization. She promised to set up a system, what she called a 'growth ladder' in which small firms could steadily grow into mid-sized firms, and mid-sized firms into conglomerates.
Eoh Jin-joo, Arirang News."
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