Gov't unveils program to foster middle class

By Byun Duk-kun
SEOUL, March 23 (Yonhap) -- The South Korean government Tuesday launched a new
program to support the country's middle class, stressing that a strong middle
class is the key to economic recovery and future growth.

The program, named the Human New Deal, calls for efforts to prevent those in the
economic class from falling off their bracket, as well as support for those on
their way up to the stratum, according to the Presidential Council on Future and
Vision.
"The government decided to launch the Human New Deal as it believes a country
with a strong middle class can overcome the economic crisis at an early date and
secure an advantageous basis for a leap after the crisis," the council said in a
press release.
The council meeting was also attended by Jason E. Bordoff, a project policy
director at the Brookings Institution, who said the new program was very
"timely," it said.
Bordoff also noted the social program resembled that of the United States, under
which the Obama administration seeks to bring up to 95 percent of all Americans
into the middle class, the council said.
The South Korean program consists of three major goals, which also include
support for those seeking to launch new, small businesses, a move that will help
keep the unemployment rate down.
Public education will also be strengthened as part of efforts to cut the link
between poverty and learning opportunities.
"Considering the need to significantly reduce the money spent on private
education that currently places huge financial burdens on households, the
government decided to work toward an education system where private education is
no longer needed," the council said.
bdk@yna.co.kr
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