Gov't to expand social infrastructure, welfare spending

By Lee Joon-seung
SEOUL, Sept. 7 (Yonhap) -- The government plans to inject large sums of money
into social overhead capital (SOC) building projects and greatly expand welfare
spending next year, a senior economic policymaker said Monday.
In a report to President Lee Myung-bak, Finance Minister Yoon Jeung-hyun said 6.7
trillion won (US$5.4 billion) will be spent on the so-called "four rivers"
project and other infrastructure works that can boost economic growth.
He also said that up to 550,000 public jobs will be created next year, up from
400,000 this year, with welfare funds to rise sharply to help underprivileged
people hurt by the economic downturn.
The government will also increase export insurance coverage to help small- and
medium-sized exporters gain access to overseas markets, said the minister.
yonngong@yna.co.kr
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