The leaders of South Korea’s five major business lobby groups pledged more efforts Tuesday to promote job creation, investment and exports in a bid to help boost the faltering economy.

The pledge, made at a breakfast meeting in Seoul, comes as the South Korean economy, Asia’s fourth-largest, is struggling to overcome strong global headwinds, like the European fiscal crisis.

The business leaders agreed to urge the nation’s top 10 family-run conglomerates to push ahead with their employment plans for the second half, creating 42,950 jobs.

Samsung Group, the country’s biggest conglomerate, plans to recruit 12,400 employees in the July-December period, followed by Hyundai Motor Group with 3,430 jobs, SK Group with 2,350 jobs, LG Group with 7,700 jobs and Lotte Group with 6,280 jobs.

The country’s jobless rate came to 3.1 percent in July, down from 3.2 percent the previous month, according to data released in mid-August by Statistics Korea. The July figure also marks a drop of 0.2 percentage points from the same month last year.

The business leaders also agreed to form a special committee to revive investment, domestic consumption and exports.

In addition, they called on the government to allow plant expansion in the industrial complexes in Yeosu, 455 kilometers south of Seoul and Ulsan, 414 kilometers southeast of Seoul and to increase investment in the renewable energy sector.

“The government should ease a series of regulations on corporate investments and support the service sector to increase jobs,” said Sohn Kyung-shik, chairman of the Korea Chamber of Commerce and Industries.

The country’s five major business lobbies include the KCCI, the Korea International Trade Association, and the Federation of Korean Industries. (Yonhap News)