Regulatory policy

6 in 10 companies make job creation top policy priority of new government: poll


Six out of 10 South Korean companies want President-elect Yoon Suk-yeol’s new government to focus on job creation to support economic recovery, according to a survey released on Sunday.

Out of 157 local businesses, 95, or 60.5%, have chosen job creation as the new government’s policy priority, according to the Mono Research poll commissioned by the Federation of Korean Industries (FKI), the country’s main business lobby. .

The survey from February 18 to March 1 also showed that resolving social conflicts took second place with 17.2%, followed by seeking political reforms with 12.1% and improving diplomatic relations with 5. .7%.

“Local businesses want the new government to focus on job creation in an effort to alleviate economic uncertainty related to the COVID-19 pandemic and support economic recovery,” the FKI said.

To create jobs, 28.3% of respondents said the Yoon government should support forward-looking industries, then seek deregulation with 27.5% and increase the competitive advantage of manufacturing with 20.5%. %, according to the survey.

During his election campaign, Yoon said he would ease regulations and create business-friendly environments to help the private sector create more jobs.

His pledges marked a shift in pursuit of small government, breaking with the state-led policy of job creation and economic growth under the outgoing government of liberal President Moon Jae-in.

South Korea recorded job growth for the 11th consecutive month in January as part of the economic recovery. But in-person services, such as accommodation and retailers, are still suffering from employment constraints amid the COVID-19 pandemic. (Yonhap)