We begin at South Korea’s finance ministry…. It has announcend a range of measures to boost
the local economy, which is suffering from falling exports and low consumer inflation. Part of those measures is to increase investment
by the public sector, which Finance Minister Hong Nam-ki says will reach tens of billions
of dollars by the end of the year. Yoon Jung-min starts us off. South Korea’s Finance Ministry has announced
a range of plans to boost the economy,… including more investment from the public
and private sectors. With exports weak, the idea is to revitalize
domestic consumption. In a meeting Wednesday with related ministers,…
finance minister Hong Nam-ki said investment by public institutions will reach some 45
billion U.S. dollars within the year,… an increase of around 825 million dollars from
earlier plans. Public companies, including the Korea Land
and Housing Corporation, will invest more funds to expand social overhead capital,…
building more public housing, roads and electrical grid infrastructure. The government will also redirect around 1-point-4
billion dollars to boost overall investment and the domestic economy. And the finance ministry, Hong said, will
encourage local governments make use of subsidies that amount to some 8-point-7 billion dollars. More private investment projects will be launched…
including the building of logistics centers for global e-commerce as well as shopping
malls,… while easing loan conditions for those buying homes that’ve gone unsold for
a long time. To help exporters, insurance premiums for
exchange rate fluctuations will be lowered, and more loans will be made available to small-
and mid-sized exporters. To boost consumer sentiment, the government
plans to provide more subsidies for those buying home appliances and issue more gift
certificates for use at traditional markets or small businesses. Drivers will get discounts on tolls until
mid-October,… and more young people will be eligible special tour packages on Korea’s
national rail system. Yoon Jung-min, Arirang News.

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