Finance Minister Hong Nam-ki says that the government will provide 70 trillion won to foster the service sector over the next five years.

The minister made the comments on Wednesday in a meeting with heads of economy-related ministries to discuss ways to revitalize the economy.

The finance minister announced a set of measures to support service sectors such as tourism, logistics, healthcare and content, stressing the need to support Korea's service industry and help advance the economy.

He vowed to raise the tax refund ceiling from one million won to two million in order to help promote foreign tourism spending and to accelerate the construction of a proposed theme park in Hwaseong, Gyeonggi Province. 

The minister also pledged to phase out a curfew system designed to disallow minors from playing online video games past a certain hour.

The minister called for the quick passage of the government's supplementary budget bill, saying that more than 70 percent of the extra budget will be applied by the end of the third quarter.