According to Yonhap News,

(SEOUL = Yonhap News) The government announced three investment promotion measures this year, but from now on it will draw up and announce the measures every quarter.

At the World Woman Economy Forum 2013 held at Lotte Hotel in Seoul on Nov. 22, Vice Minister of Strategy and Finance Choo Kyung-ho said that “The government announced three investment promotion measures this year to create a more investment-friendly environment so that investment can drive economic growth. However, from now on, the government will announce such measures every quarter.”

He also said that “Although the Korean economy is seeing signs of recovery backed by employment increase, we are facing risks such as sluggish investment caused by external and internal uncertainties, and long-term downward pressure due to low birth rate and an aging population. The economy is at a critical point, where it could either enter a sustained recovery phase or fall into the trap of low growth after a short-lived recovery.”

He added that “The government plans to revitalize the economy to sustain growth, and is implementing various policies to enhance the economy’s fundamentals.” and explained government policies such as the roadmap to achieving a 70 percent employment rate, expansion of work hour –based jobs, and measures to create a virtuous cycle in the venture start-up fund sourcing ecosystem.

He noted that because he is aware that these measures have yet to show visible results, and that some are demanding that the measures be improved, he will listen to people’s opinions and demands and take them into consideration when creating policies.

In addition, Vice Minister Choo also expressed that the government will strengthen support for businesses owned by women and women entrepreneurs so that they can grow into small but strong global companies.