South Korea's top economic policymaker said Wednesday that the government will push to lift or ease all but core regulations as part of its package measures to boost employment
"All government departments will raise the effectiveness of policies to ease regulations and create more jobs," Finance Minister Yoo Il-ho said.
The remarks were made during a meeting between government officials and lawmakers of the ruling Saenuri Party at the National Assembly in Seoul to discuss the youth unemployment issue.
The government has been pressing ahead with deregulation drive in various sectors, as unnecessary regulations could place big burdens on companies on hiring more people.
The measure is part of the government-led job creation effort for the young generation.
Creating jobs is one of the main goals of the Park Geun-hye administration's labor reform drive as it seeks to increase labor flexibility in the face of a protracted economic slowdown.
The unemployment rate for people between the ages of 15 and 29 reached a record 9.2 percent in 2015, up from 9 percent tallied a year earlier and the highest level since 1999.
"The government will hold a youth job fair every month at 17 innovation centers cross the country," Yoo said.
South Korea set up 17 innovation centers across the country as part of its push for the establishment of a creative economy and to eventually create more jobs for young people. The centers are to match up local startups and venture firms with conglomerates, which can provide resources to smaller companies so that they can turn creative ideas into real business opportunities. (Yonhap)