Seoul City to Promote 'Social Impact Reward Project' for Training Young Digital Talents... 150 Selected This Year

Recruiting 50 Young Participants from Feb 15 to Mar 5, 50 Selected Young Job Seekers per Session
3-Month Online Training to Enhance Digital and Performance Marketing Skills

Seoul City 2nd SIB Project Operating Structure

[Asia Economy Reporter Lim Cheol-young] Seoul City announced on the 16th that it will promote the Youth Unemployment Resolution Social Impact Bond (SIB) project to train 500 young people as digital talents. This is the second project following the first one in 2016, which supported children with borderline intelligence.

The 'Social Impact Bond' is a social problem-solving project based on a 'private investment first - reward later' model, where private companies invest project funds in public projects first, and if the goals are achieved, Seoul City pays the project costs plus performance rewards.

Since the project is implemented with private capital and payments are made only when results are achieved, public institutions can reduce budget waste, and investors can fulfill social responsibility while receiving performance rewards if the project succeeds.

The total number of selected participants this time is 50. Eligible applicants are young people aged 19 to 34 who have registered their residence in Seoul and meet at least one of the following criteria: ? Household monthly average income below 100% of the median income ? Long-term unemployment for more than 6 months ? Long-term job preparation status for more than 1 year.

The selected young job seekers will participate in a 3-month 'Digital and Performance Marketing Capacity Building Project' from April 5 to June 25, which is immediately applicable in the field. This project consists of job training, practical training, and customized employment consulting, and all programs will be conducted through non-face-to-face online education.

Additionally, support will be provided for ? Birkman assessment, mental productivity diagnosis ? Digital marketing expert roundtable ? Education experience fees, advertising execution practice costs, employment success allowances ? Job application portfolio creation ? Acquisition of digital marketing expert certification.

The total project cost for this second Youth Unemployment Resolution Social Impact Bond (SIB) is 3 billion KRW, of which 100 million KRW for performance evaluation will be paid first by Seoul City, and the remaining 2.9 billion KRW will be raised and invested by the operating organization (Pan Impact Korea) through private investors.

Youth who wish to participate can check detailed qualifications and apply on the website (https://digitalmkt.kpc.or.kr) by March 5. For more information, inquiries can be made via email (kpc-hjjeong@naver.com) or by adding the KakaoTalk channel (@seoulsib) as a friend.

Seo Seong-man, Director of Labor and Livelihood Policy at Seoul City, said, "The digital talent training project to improve youth unemployment caused by the prolonged COVID-19 pandemic is suitable for the SIB project, which presents innovative solutions to social problems," and added, "We will also share the know-how of the SIB project that helps solve social problems with other local governments to promote policy expansion."

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