In the latest move to revitalize the Korean economy,... the government will invest over 60 billion U.S. dollars into the service sector.<br />Here's our Kim Da-mi with more on today's economic meeting.<br /><br />Calling the service sector a treasure chest for economic value and job creation... the government says it will invest some sixty-billion U.S. dollars into the sector over the next five years.<br />In Wednesday's economic meeting, Finance Minister Hong Nam-ki highlighted the potential of the service sector, which is twice as productive as the manufacturing sector when it comes to creating new jobs.<br />For that, the government will take the lead in extending loans to the service sector by 2023.<br />It will also boost service sector R&D by investing around five billion dollars and providing tax incentives.<br />The government also proposed detailed plans for the tourism and logistics sectors.<br />To attract more foreign visitors, Hong announced a plan to host a K-pop festival in May and October every year.<br />Hong also promised to increase the number of logistics centers, especially on unused land in and around Seoul, and invest one hundred and seventy-six million dollars in logistics R&D by 2027.<br />He added that plans to introduce smart services that provide customized ICT solutions in logistics will further allow integration between the service and manufacturing sectors.<br />Kim Da-mi, Arirang News.<br />
