Special Job-Seeking Support Fund of 500,000 Won for Unemployed Youth... Application Targets and Requirements Reviewed

Job-Seeking Activity Support Fund Prioritizes Low-Income Youth Participating in Chwiseongpae
Cannot Receive Job-Seeking Allowance and Other Benefits Simultaneously...Minimizing Required Documents
Payments Divided into 1st and 2nd Groups...Applications Only Through Online Youth Center

Asia Economy DB=Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Kim Bo-kyung] The government will select 200,000 unemployed youth and distribute a job-seeking support fund of 500,000 KRW each. Priority will be given to low-income youth who have participated in job-seeking support programs last year and this year.

The Ministry of Employment and Labor announced the execution guidelines for the 'Youth Special Job-Seeking Support Fund' project under the Ministry's jurisdiction, included in the 4th supplementary budget, on the 15th.

The Ministry stated, "Considering the difficult employment conditions for youth due to reduced or postponed hiring and prolonged job-seeking periods caused by COVID-19, we will support a total of 200,000 youth with the Youth Special Job-Seeking Support Fund."

The Youth Special Job-Seeking Support Fund will be paid once at 500,000 KRW. If desired, employment counseling, job placement, and other employment support services will be provided, and it can be linked to education in new technology fields. Applications and registrations will be accepted only through the 'Online Youth Center' website.

The support targets for the Youth Special Job-Seeking Support Fund are ▲ unemployed youth affected by the economic downturn due to COVID-19 among participants of the Youth Job-Seeking Activity Support Fund and Employment Success Package (ESP) from 2019 to 2020, and ▲ unemployed youth newly participating in the Employment Success Package (ESP).

Youth currently receiving the Youth Job-Seeking Activity Support Fund or participating in ESP Type 1 and eligible for job-seeking promotion allowance are excluded from support. Youth receiving unemployment benefits, participating directly in job projects, or receiving emergency employment stabilization funds are also not eligible for duplicate support.

Priority for support will be comprehensively determined considering previous receipt of job-seeking promotion allowance, elapsed time since receipt, income level at the time of participation in job-seeking support programs, and other factors.

The first priority group consists of low-income vulnerable youth who did not receive job-seeking promotion allowance this year. This includes ▲ low-income youth (below 60% of median income) who participated or are participating in ESP Type 1 last year, and ▲ specific vulnerable groups (such as North Korean defectors) who participated or are participating in ESP Type 1 in 2019-2020.

The second priority group includes last year's job-seeking program participants. Specifically, ▲ those who participated and completed ESP Type 2 in 2019, ▲ those who completed the Youth Job-Seeking Activity Support Fund project in 2019 (below 120% of median income), and ▲ those participating in ESP Type 1 this year whose participation ends by the end of July (below 60% of median income).

The third priority group includes youth who participated and completed or are currently participating in this year's job-seeking support programs or newly participating youth. This includes ▲ those who completed, are participating in, or newly joined ESP Type 2 this year, and ▲ those who completed the Youth Job-Seeking Activity Support Fund project by the end of July this year (below 120% of median income).

An official from the Ministry of Employment and Labor said, "Detailed criteria may change, and if the number of eligible recipients exceeds 200,000, third priority applicants will be selected based on priority."

The Ministry plans to send notification texts to the first group of applicants before and after the supplementary budget passes, accept online applications until the 25th, and provide support funds before Chuseok. Approximately 70,000 notifications will be sent to low-income vulnerable youth who did not receive job-seeking promotion allowance and unemployed participants from last year's job-seeking support programs.

The second application period will be held from October 12 to 24. ▲ Those who completed or are participating in this year's job-seeking support programs, ▲ new participants in ESP, and ▲ youth who were eligible for the first application but did not apply during that period can apply during the second period. Support funds for the second group will be paid by the end of November.

If participants receive support funds through false or other fraudulent means, the amount will be reclaimed according to the Public Finance Recovery Act, and penalties up to five times the amount may be imposed.

The Ministry stated, "These guidelines are based on the government's supplementary budget plan and may change depending on the National Assembly's discussions. Once passed, a finalized execution plan will be announced again."

Asia Economy DB=Photo by Jinhyung Kang aymsdream@

Below is a Q&A with the Ministry of Employment and Labor regarding the Youth Special Job-Seeking Support Fund.

- Who is eligible to receive the Youth Special Job-Seeking Support Fund?

▲ Unemployed youth who participated in job-seeking support programs (Youth Job-Seeking Activity Support Fund, Employment Success Package) in 2019-2020 and were affected by the economic downturn due to COVID-19, as well as unemployed youth newly participating in the Employment Success Package, can apply for the support fund. Youth who were 34 years old in 2019 can still participate even if they are now 35. However, specific criteria may change, and if the number of applicants exceeds 200,000, priority will be applied.

- Can all eligible recipients apply in September?

▲ Payments will be made in two phases. For the first phase (tentatively September 25), notification texts will be sent on September 18. Those who miss the September application can apply online through the Online Youth Center starting October 12.

- Is it impossible to apply if one did not participate in the Youth Job-Seeking Activity Support Fund or Employment Success Package in 2019-2020?

▲ If you did not participate in job-seeking support programs in 2019-2020, you can apply for the support fund if you newly participate in the Employment Success Package before the application date. Detailed information will be separately announced on the Ministry of Employment and Labor website and the Online Youth Center.

- Where can I apply?

▲ Applications are only accepted through the Online Youth Center.

- How can I find out about specific eligibility, procedures, and required documents?

▲ Required documents will be minimized as much as possible. Currently, a bankbook copy and consent form for personal information provision are planned to be collected. Other detailed requirements will be finalized after the supplementary budget passes and separately announced on the Ministry of Employment and Labor website and the Online Youth Center.

- Will the support fund be provided as card points like the Youth Job-Seeking Activity Support Fund?

▲ The fund will be paid once in cash only, 500,000 KRW, and not by card points or other methods.

- If I have a business registration certificate, can I apply for the support fund?

▲ Even if you have a business registration certificate, you can apply if you have a certificate of business suspension or closure. These documents will not be submitted by applicants but will be verified collectively through cooperation with related agencies such as the National Tax Service. However, required documents may change based on consultations with related ministries and agencies and will be announced later.

- As a special type worker or freelancer, can I receive both the special employment stability fund and the Youth Special Job-Seeking Support Fund?

▲ You cannot receive both the Youth Special Job-Seeking Support Fund and the special employment stability fund for special type workers and freelancers. If you qualify for both, you must choose the support fund that is more beneficial to you.

This content was produced with the assistance of AI translation services.