Finance Minister Yoo Il-ho says that the government will actively support efforts to carry out restructuring of five ailing industrial sectors.

The minister said on Monday that corporate restructuring should follow proper legal procedures. He said that companies and debtors should first take all possible measures, adding the government will actively play a supporting role to ensure successful restructuring.

The minister reaffirmed that the government will focus on passing four labor reform bills during the final parliamentary session of the 19th National Assembly.

He stressed that the bills on the service industry and labor reforms must pass in the current assembly as they are crucial to job creation.