[2021 National Audit] "Ineffective Youth Policies, Budget Also Cut"

Next Year, Youth Startup Academy Budget Cut by 8.4 Billion KRW and Service Voucher by 5.2 Billion KRW

Photo by Getty Images Bank

[Asia Economy Reporter Kim Cheol-hyun] The newly established 'Youth Policy Division' under the Ministry of SMEs and Startups in September has been criticized for merely continuing existing projects. Lee Jang-seop, a member of the Democratic Party of Korea, stated this during the National Assembly's Industry, Trade, and Energy and SMEs Committee audit on the 7th, emphasizing, "There is a need to actively support the division to play a venture role within the Ministry of SMEs and Startups that can break the rigid framework of the public service."

According to Rep. Lee, the government established a dedicated youth organization within the Ministry of SMEs and Startups on the 7th of last month to strengthen youth support. He said, "The reason for increasing personnel and creating the division was likely to establish and implement new policies from the perspective and viewpoint of youth, but the main tasks are follow-up measures to the youth startup plan announced in May, and the new project, the Startup-Centered University program, is also included in that plan, resulting in merely continuing existing projects as they are." He added, "Moreover, the budgets for major projects such as the Youth Startup Academy and service vouchers have been reduced by 8.4 billion KRW and 5.2 billion KRW respectively, raising concerns that the Youth Policy Division might become a showy, promotional formality."

Rep. Lee continued, "The wage and welfare gap between large corporations and SMEs is widening day by day, creating another form of class division among youth," and suggested, "The division's work is overly focused on ventures and startups, but there is also a need to prepare policies for youth employed in SMEs."

He also emphasized, "As the voices of youth grow louder, various youth policies are being introduced, but many do not even know what policies exist or which ones they need, and there are cases of overlapping similar projects across ministries," stressing, "The Youth Policy Division needs to coordinate, evaluate, and organize these to improve youth policy accessibility."

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