South Korea's Moon says economic policies are on the right path

[SEOUL] President Moon Jae-in said on Saturday South Korea's economic policies are on the right path to boost jobs and address inequality.

"Our economic policies are on the right path. The government will be making an all-out effort to address employment issues and income inequality," Mr Moon said at the national democratic convention in Seoul.

Mr Moon said he was aware of public concerns over the lack of jobs growth but economic recovery was intact because of robust exports growth and moderate increases in household income.

In a major setback for the self-styled "Jobs President", South Korea's July jobs report showed Asia's fourth-largest economy added a mere 5,000 jobs from a year earlier, the smallest annual gain since January 2010 when the economy was still reeling from the global financial crisis.

REUTERS