The government announced on Monday that it will slash 17,230 jobs or 3.9 percent of all positions at 350 state-run organizations by 2025 to streamline their structure and implement President Yoon Suk-yeol s fiscal belt-tightening policies. The government will also re-assign 4,788 workers or 1.1 percent of the employees at public organizations with new duties over the cited period.
Korea is hosting the 10th gathering of finance ministry officials in the Asia-Pacific region this week, with this year s topics focused on improving and sustaining fiscal health in the coming post-pandemic era. The 2022 gathering of the Public Expenditure Management Network in Asia (PEMNA), a peer-learning network of financial bureaucrats specialized in public expenditure management, is taking place in person for the first time since the start of the pandemic.