Korea to launch task force to tackle disparities

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The government announced on the 11th that it is embarking on the identification of policy tasks to resolve polarization in five major sectors. On the same day, the government held an emergency economic ministers' meeting chaired by Deputy Prime Minister and Minister of Finance and Economy Lee Hyung-il to discuss the "direction for responding to polarization." As polarization is projected to intensify due to the concentration of economic growth a…

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With this year's economic growth projected to reach the mid-3% range, the government has decided to launch an organization to address polarization as the fruits of growth have failed to spread to the general public's livelihoods. The plan is to resolve K-shaped polarization by focusing on five key sectors closely related to people's livelihoods, including the labor market and regional development. On the 11th, the government...

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The government is forming a pan-government "Task Force on Responding to Polarization," headed by the Deputy Prime Minister for Economic Affairs, to address disparities across five major sectors: the labor market, industry, regions, generations, and society. This move stems from the assessment that "K-shaped polarization" could become entrenched due to the interplay of semiconductor-centered growth, the Seoul-centric system, an aging population, …