Lee says SMEs key source of jobs for youth

SEOUL, May 19 (Yonhap) -- President Lee Myung-bak said Thursday that small- and medium-sized enterprises (SMEs) are an important source of jobs for the youth and the government should provide greater help for them.
Job creation and youth unemployment were the main topics for a weekly meeting of government officials that Lee presided over to check on economic policies for ordinary people. Thursday's session was held at a vocational high school in southern Seoul.
"Jobs are created when small- and medium-sized enterprises are in operation," Lee said during a visit to the vocational high school. "I ask the finance and labor ministries to consider" measures to help SMEs, he said.
Though South Korea's youth unemployment rate, which stands at around 8-9 percent, is lower than other advanced economies with weaker manufacturing sectors, Lee said that one of his policy priorities is to create jobs for the youth.
Lee said he believes more jobs can be created if South Korea strengthens the services sector while maintaining its strong manufacturing sector base.