The government is seeking to reform its fiscal spending structure.
The Ministry of Strategy and Finance on Friday discussed the plans as to how to pursue the so-called “spending reform 2.0.”
At the beginning of the meeting, Second Vice Finance Minister Kim Yong-jin said that without spending reform, it will be difficult for the government’s active fiscal roles to be supported by the public.
Under the reform, the government will assess the affect of budget redistribution as a way of alleviating the deepening income inequality in the nation.
It will also try to strengthen social services through public-private cooperation, and enhance the efficiency of state supportive systems for job creation that are currently scattered across many different government organizations.
The government seeks to finalize the details of the plans by the end of this year and reflect them in the national budget allocation beginning in 2020.