Finance minister stresses need to boost job creation

SEOUL, June 4 (Yonhap) -- South Korea's finance minister on Tuesday stressed the need to boost job creation and encourage more women to join economic activities.

"Globally, how to boost employment rates has posed a challenge (to policymakers), warranting attention," Finance Minister Hyun told reporters before holding a meeting with Bank of Korea (BOK) Gov. Kim Choong-soo. "It is critical to encourage more women to participate in economic activities."

Their meeting, the first of its kind since Hyun's inauguration in March, comes amid keen interest as the government and the central bank have been at odds over their assessment of economic conditions and the necessity for a rate cut.

The government has pushed for economic stimulus measures, including drawing up an extra budget of 17.3 trillion won (US$15.3 billion), effectively putting pressure on the BOK to slash the key interest rate.

After resisting the government's call to join the stimulus actions, the BOK cut the key interest rate by a quarter percentage point to 2.5 percent in May.

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