1 Trillion Won Support for Local Love Gift Certificates Issuance... Creation of Over 44,000 Local Jobs

Ministry of the Interior and Safety Promotes Virtuous Cycle from Consumption Stimulation to Job Expansion to Regional Economic Revitalization

On the 25th, six days before Chuseok, a notice indicating the acceptance of Seoul Love Gift Certificates and disaster relief funds was installed at a store inside Yeongcheon Market in Seodaemun-gu, Seoul. Photo by Mun Ho-nam munonam@

[Asia Economy Reporter Jo In-kyung] The government plans to inject 1 trillion won to boost the issuance of local love gift certificates and create about 44,000 customized jobs to revive the regional economy, which has been stagnant due to the spread of the novel coronavirus infection (COVID-19). It will expand the 'Youth Village Project' that connects youth with local areas to help them settle down, and also discover and support 'Village Enterprises' that reflect the characteristics of the region.

The Ministry of the Interior and Safety announced on the 15th that it will invest a budget of 1.3692 trillion won to enhance regional vitality by creating a virtuous cycle structure of consumption promotion → job expansion → regional economic revitalization.

First, to activate consumption within the region and support small business owners, the government will provide 1.0522 trillion won in national funds for the local love gift certificate issuance support project, increasing the support budget by about 57% (383.2 billion won) from 669 billion won last year. Next year, 231 local governments nationwide are scheduled to issue local love gift certificates, and each local government will set an annual sales plan and start selling at a 10% discount from January.

The Ministry of the Interior and Safety will also create about 44,000 customized jobs for target groups such as youth, low-income, and vulnerable groups to promote regional economic revitalization. It will invest 235 billion won in the 'Local Government-led Youth Job Project,' which connects youth struggling with unemployment and job shortages with local companies, recruiting 26,000 people.

For the 'Local Community Jobs' project, which provides jobs to vulnerable groups in the region to promote community recovery, 38.5 billion won in national funds will be provided to recruit 9,500 people. Additionally, 25.4 billion won will be invested in the 'Local Quarantine Jobs' project, which supports daily quarantine activities such as temperature checks and disinfection mainly at public offices, public transportation facilities, and other multi-use facilities, recruiting 8,600 people.

Participants in these local community jobs and local quarantine jobs will be paid the minimum wage (8,720 won per hour) and enrolled in the four major social insurances. Recruitment for next year's projects will begin from mid-this month through local government websites and community centers.

The 'Youth Village Project,' which connects local areas designated as extinction regions with youth moving to the metropolitan area, will receive 7.7 billion won. Since 2018, one youth village has been designated each year, with three currently operating as pilot projects. After addressing trial and error, 12 additional sites will be selected and expanded next year, targeting local extinction areas such as Uiseong, Gyeongbuk.

The Ministry of the Interior and Safety will select 12 youth organizations or youth enterprises wishing to settle in the region through a public contest early next year and support each with 600 million won in project funds.

These youth villages operate base centers using idle spaces and resident councils, and will choose and implement one of six business types: remote lifestyle type applying digital technology; transition education type based on alternative and ecological education; cultural creation type led by cultural and artistic youth; regional industry type such as food & beverage (F&B) and specialized crops; innovative technology type such as smart cities; and eco-friendly energy self-sufficient type.

Along with the creation of youth villages, the government aims to newly designate more than 100 village enterprises annually and will support 10.4 billion won throughout next year. The plan is to focus on discovering and nurturing 'regionally specialized village enterprises' that reflect local characteristics, with at least one enterprise per city and province. For youth village enterprises in which youth invest or participate, designation requirements and self-funding will be eased.

Lee Jae-young, Vice Minister of the Ministry of the Interior and Safety, said, "While everyone is going through a difficult time due to COVID-19, the regional economy must recover for every corner of our economy to recover. We will steadily carry out customized support projects that residents can feel in the recovery of the regional economy."

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