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Pres. Moon to expand 'social economy' driven by private sector

2019-07-05 27

문 대통령 "사회적경제 지원 강화…원칙은 지역기반•민간주도"

President Moon revealed new measures to establish the so called "social economy" in Korea.
The government will provide financial support to create more social economy-related jobs.
explains how it'd work. President Moon Jae-in says he will build a stronger social economy... one that is focused on local communities, driven by the private sector, and backed by the government.
"Since its launch, our government has focused on the value of the social economy. We will strengthen it on the principle of focusing on local communities, in an effort led by the private sector and supported by the government."
President Moon was speaking Friday at the second Social Economy Fair in Daejeon,... attended by around 8-hundred people from government, business and civic groups.
The social economy is a key pillar of the Moon administration's goal of a "people-centered economy" and an "inclusive nation."
The president promised to foster the growth of the social economy by expanding the necessary infrastructure.
That includes creating centers across the country for nurturing socially-responsible firms.
There will also be more financial support.
President Moon said the government will spend more than 275 million U.S. dollars to support such policies,... an increase of 67 percent from last year.
He also pointed to how a social economy has been well-established in places like Canada and Europe.
In Sweden, the sector employs 11 percent of the working population.
And for all the European Union, that percentage amounts to more than six percent.
In stark contrast, the social economy employs less than one percent of the working population in South Korea.
According to President Moon,... that means more room for development.
As part of such efforts, the president said the government will support 860 startups, and more than 58-hundred community-based jobs will be added through the social economy.
He will also encourage the use of research and development to solve social issues,... led by local people, researchers and universities.
But all this, he said,... cannot be accomplished by the administration alone.
President Moon asked for cooperation from parliament, local governments, and above all,... the people.
Kim Min-ji, Arirang News.

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