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KOREAN GOV'T EXPECTS 500,000 JOBS TO BE CREATED THIS YEAR.

AsiaPulse News

| February 02, 2004 | COPYRIGHT 2004 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SEOUL, Feb 2 Asia Pulse - The Ministry of Finance and Economy said Friday that tax breaks and various other incentives will permit 500,000 jobs to be created this year.

In a press release disputing some media reports that the Roh Moo-hyun administration was indiscriminately painting a rosy picture of the economy to win votes for the April parliamentary race, the ministry argued that its job creation goals were attainable.

It claimed that if South Korea was able to pull off 5 percent growth, which is commensurate with the country's actual potential for 2004, the numbers being set may be reached. The economic policymaking body said that comprehensive tax breaks for companies hiring new employees and strong exports made it very likely that more workers will be needed to cope with rising ...

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