
The government and the ruling People Power Party agreed Friday to provide 11.6 trillion won ($7.86 billion) next year to stabilize consumer prices and ease the financial burden on low-income households.
The two sides made the agreement during a consultative meeting among government officials, PPP lawmakers and private sector representatives at the National Assembly amid efforts to revitalize the economy.
The government and the PPP agreed to create over 1.24 million direct job opportunities for the elderly and others, with more than 90 percent of these jobs to be filled in the first quarter of next year.
They also decided to allocate 50 billion won to provide special loans to the tourism sector and to expand a vacation support program for employees, increasing the number of beneficiaries from the current 65,000 to more than double.
The temporary exemption of the Korea Electronic Travel Authorization program for 68 countries will be extended. Visa issuance fees for tourists from China and Southeast Asian nations will also be waived for an extended period. (Yonhap)