'500,000 Won Paid to Unemployed Youth' Attracts 170,000 Applicants... About 10,000 Expected to Be Rejected

Government Target of 160,000 People... Payment Within Budget
Notification by Text on November 17 if Not Eligible
Support Funds Paid in Bulk at End of November... Employment Services Provided

Photo by Asia Economy DB

[Asia Economy Reporter Kim Bo-kyung] Approximately 170,000 unemployed youth applied for the 'Youth Special Job-Seeking Support Fund,' which provides 500,000 won to unemployed young people. This number exceeds the government's target support scale by 10,000.

On the 25th, the Ministry of Employment and Labor announced that a total of 169,495 people completed their applications by the deadline for the second round of the Youth Special Job-Seeking Support Fund.

The Youth Special Job-Seeking Support Fund, which is provided to unemployed youth with the intention to seek employment, aims to support up to 200,000 people, with an additional supplementary budget of 102.5 billion won allocated.

The Ministry of Employment and Labor had already completed payments to 40,947 people in the first round last month. The target number for the second round is the remaining 159,053 people.

The actual number of applicants exceeded the target by about 10,000.

The Ministry plans to conduct eligibility reviews, including verification of employment or entrepreneurship status, for the second-round applicants by mid-November.

If the number of eligible recipients exceeds the budget, priority will be applied to provide support within the budget limits.

Youth who are not eligible for the support fund will be notified of the review results via text message and AlimTalk around November 17.

If there are objections to the review results, appeals can be submitted through the Online Youth Center from November 18 to 22. Taking into account the appeal results, the support funds will be paid out in a lump sum at the end of November.

However, youth who received notification texts as first-round applicants but applied during the second round will receive their support funds by the end of this month.

Recipients of the support fund will be linked to employment support services such as job counseling, job placement, and vocational training upon their request.

Jang Geun-seop, Director of Youth Employment Policy at the Ministry of Employment and Labor, stated, "Due to the decrease in hiring caused by COVID-19 and the prolonged job-seeking period, difficulties for youth continue. We will do our best to promptly provide support funds to young people who have a strong intention to seek employment but have not been able to find jobs."

For more details, inquiries can be made through the Online Youth Center’s phone and KakaoTalk consultations, as well as the Ministry of Employment and Labor’s customer service center.

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