Gov"t Battle Plan for Unemployment

The government has announced its measures to address the unemployment problem.
According to the plan released on March 21, small and medium-sized companies and venture capital firms that are newly established will be exempted from paying enrollment or acquisition taxes.
Those who invest into venture capital companies or directly invest into companies will be allowed to deduct 30 percent of the investment amount from their composite incomes.
The government also plans to offer more support to low income earners.
To do so, the government will increase money for the unemployed to 1.6 billion won this year by increasing its total budget to 8.3 trillion won.
The government intends to pour about 80 percent of the money for unemployment into the creation of new jobs, and increase the amount of money used to support the foundation of small and medium-sized companies and venture capital firms from the current 100 billion won to 750 billion won.
Meanwhile, the government will approve a variety of industries to be designated as venture industries, excluding 48 kinds that are deemed unsuitable.
Hyeong Ki Kim: myriad@joongang.co.kr