South Korea's service industry needs to turn outward and become globalized so it can play a greater role in spurring economic growth and contribute to job creation, the country's top economic policymaker said Thursday.
Holding talks with business leaders in the Incheon free economic zone west of Seoul, finance minister Choi Kyung-hwan claimed that the long-held perception of the service sector having nothing to do with trade is outdated, especially as countries around the world are reaching free trade agreements with their trading partners.