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(LEAD) Finance minister holds meeting to support innovative growth

2018/01/12 10:11

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(ATTN: ADDS minister's remarks in paras 3-4)

SEJONG, Jan. 12 (Yonhap) -- Finance Minister Kim Dong-yeon on Friday held the first meeting on the ministry's new policy to lend budget and tax support to private sector efforts toward innovative growth.

During the meeting, Kim and senior ministry officials discussed ways to promote innovative growth in 20 industrial areas, the ministry said in a statement.

Kim said in the meeting that the ministry will make "visible achievements" in helping the private sector find their next-generation drivers of growth through innovation.

Next week, the ministry plans to unveil some details to support a fund for innovative start-ups, the policymaker said.

Earlier, the ministry said it would implement economic policy this year aimed at boosting job creation and innovative growth, which will improve quality of life.

South Korea's economy is expected to grow 3 percent this year, following last year's estimated 3.2 percent expansion, on the back of the solid global economy and a series of policy measures.