S Korea-disparities

By Kang Yoon-seung

SEOUL, Nov. 11 (Yonhap) -- South Korea will launch a new task force led by the finance minister to address widening disparities across various sectors, the government said Wednesday.

Finance Minister Lee Hyoung-il unveiled the plan during a meeting with economy-related ministers, saying the task force will consist of five working groups tasked with addressing disparities in the labor market, industries, regions, generations and social classes.

Each group will be led by a vice minister responsible for the respective area and work with state-run research institutes to identify key policy tasks.

"The artificial intelligence transformation could deepen and accelerate disparities, leading to a K-shaped divide," the government said.

"There are concerns that the benefits of growth are not being shared equally with those at the bottom, while upward mobility remains limited."

The working groups will officially launch Thursday, with each set to report its detailed goals to the task force by early December.

Key policy agendas will be reflected in South Korea's economic growth plan for 2027.

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