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Korea s expansionary fiscal policy to prioritize containment Posted : 2020-12-17 16:14 Updated : 2020-12-17 17:33 Deputy Prime Minister and Finance Minister Hong Nam-ki, second from right, speaks during a press briefing at the Seoul Government Complex, Thursday. Yonhap Consumption, social safety net strengthened By Lee Kyung-min The government s top priority in 2021 will be the containment of COVID-19, the continued spread of which will weigh heavily on the local job market and consumption, hurting the prospects of a much-needed economic recovery. The Ministry of Economy and Finance announced its economic policy directives for 2021, Thursday, defined by increased emphasis on strengthening the social safety net to limit the fallout of the pandemic-induced massive job losses. The directives offer tax incentives to bolster consumption, which has stagnated due to the repeated rise of social distancing rules.

Soult ukpyolsiSouth koreaMinistry of economyFinancial services commissionSeoul national universityDeputy prime ministerFinance minister hong nam kiSeoul government complexPrime ministerServices commissionSeoul governmentNational universityKim so youngதெற்கு கொரியாஅமைச்சகம் ஆஃப் பொருளாதாரம்நிதி சேவைகள் தரகு