Korean US President Focus on Middle Class

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Click CC for Scripts • Subscribe to arirang! http://www.youtube.com/subscription_c... • 박근혜-오바마, 중산층 부흥 정책 닮은 꼴? • So Korea's first female president Park Geun-hye will take office next Monday and across the Pacific her U.S. counterpart Barack Obama was recently sworn in for his second term. • Both are vocal in their support of the middle class but their policies and methods to support it are slightly different. • Our Song Ji-sun explains. Broadening the middle class. • That's the stated goal of the incoming leader of Korea and President Obama. • Both leaders say the middle class is the powerhouse and growth engine for reviving their slowing economies and policies to support the middle class were a key part of their election pledges. • In his inauguration speech President Obama said a thriving middle class is the true engine of America's economic growth. • Korea's new leader Park Geun-hye also pledged to rebuild the middle class. • She said she will try to make sure the middle class will account for 70-percent of society. • The president-elect also aims to raise the country's employment rate to 70-percent. • So, how can the middle class be rebuilt? • Korea's incoming leader Park is pushing the idea of 'economic democratization' and has set her eyes on converting temporary workers to regular employees improving their working conditions and extending the retirement age to 60 years of age from 50 now. • Obama has pledged to raise the minimum wage to nine dollars an hour from the current seven-dollars-50-cents saying Americans who work full-time should not have to raise their kids in poverty. • President-elect Park has not specified where she will find the money to fund her projects, but she is looking to restructure the government's budget. • Obama is aiming to free up more funds by closing tax loopholes for the high income earners and corporations. • Song Ji-sun, Arirang News. • • Visit us on Homepage http://www.arirang.co.kr • Like us on Facebook / arirangtv • Follow us on Twitter / arirangworld

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