South Korea will speed up budget implementation in the first quarter to create jobs amid growing economic uncertainties, the finance ministry said Friday.
The announcement came as South Korea's on-year employment growth slowed significantly in 2024, with the number of new hires declining in the manufacturing and retail sectors.
"In December, the number of employed individuals fell by 52,000, reflecting worsening economic sentiment in the country. The outlook remains challenging due to delays in the recovery of domestic consumption," First Vice Finance Minister Kim Beom-seok said.
"The government will explore ways to promptly introduce tailored measures to create jobs across different industries and demographics," Kim added.
The government will allocate 45 percent of its 16.2 trillion-won ($11.2 billion) budget designated for job creation within the first quarter, according to the finance ministry.
It also plans to organize recruitment events in March, inviting competitive small and medium-sized businesses, the ministry added. (Yonhap)
