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S. Korea to encourage more economic participation amid rapid decline in population

2020-08-27 6 Dailymotion

홍남기 "육아휴직 분할 사용횟수, 현행 1회보다 확대 추진"<br /><br />South Korea has unveiled plans to deal with the resurgence of COVID-19 and population decline.<br />While continuing its current financial support, the government aims to ensure the measures remain flexible to the ever-changing situation.<br />Kim Sung-min reports.<br />South Korea aims to expand the economic participation of women, young people and the elderly to deal with the continuous decline in population.<br />Meeting with economy-related ministers on Thursday, Finance Minister Hong Nam-ki said South Korea's total fertility rate for the second quarter fell to its lowest ever at zero-point-eight-four, and stressed the need for more government measures.<br />"The changes in population could lead to a decline in economic growth while increasing the burden of supporting the elderly. This could pose a great threat to the economy and society as a whole so the government measures are not an option but a matter of survival."<br />To encourage more women in the workplace, women will be allowed to split their maternity leave into several blocks.<br />The government also aims to provide job support for young people while adjusting employment policies for the elderly.<br />In addition, to provide a skilled workforce for small and medium-sized businesses, some foreign students who majored in natural sciences and engineering will be eligible to work in the country.<br />During Thursday's meeting, the government also came up with extra economic measures to deal with the rapid resurgence of COVID-19.<br />This includes releasing the rest of the 84-billion U.S. dollars budgeted to support small to medium-sized businesses.<br />The due date for bank loans and the grace period for interest payments that were originally set for September will be extended.<br />As for the virus-ravaged aviation industry, rent for airport facilities and related businesses will also be extended until the end of the year.<br />Kim Sung-min, Arirang News.<br />

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