South Korea’s 2021 economic policy plan underscores its commitment to boosting domestic demand and propping up the sluggish job market, according to the country’s finance ministry.

This is as the country sets its sights on overcoming economic slumps caused by the new coronavirus outbreak.

The finance ministry unveiled two-pronged approaches in managing the 2021 economic policy plan, under which the country will seek to support “fast and strong” economic recovery and transform the country into a “pacesetting” economic power in the post-Coronavirus era.

The South Korean economy is expected to grow 3.2 per cent next year from this year’s estimated contraction of 1.1 per cent, the first retreat since the 1997-98 Asian financial crisis, according to the ministry’s latest estimate. (Yonhap/NAN)

– Dec. 17, 2020 @ 10:35 GMT |