[Exclusive] "Capturing MZ Votes" Lee Jae-myung's Campaign Committee Considers 'Youth Employment Guarantee System' Pledge

The Previous Committee is Reviewing as Main Election Pledges
Providing Incentives for Education, Referral, and Employment

Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, attended an invited lecture at the Financial Economy Seminar held on the 7th at Seoul National University in Gwanak-gu, Seoul. Before giving a lecture on the theme of "Youth Salon Lee Jae-myung's Economic Story," focusing on the economic policy direction and philosophy, he greeted the students. Photo by the National Assembly Press Photographers Group

[Asia Economy Reporter Koo Chae-eun] It has been confirmed that Lee Jae-myung's election campaign committee is considering the ‘Youth Employment Guarantee System,’ which guarantees employment education, job placement, and employment incentives for about 250,000 young people entering the workforce over 4 to 6 months, as a pledge for the main election.

A Democratic Party campaign committee official said on the 7th, "The ‘Transition Period Youth Employment Guarantee System’ proposed by the youth division is currently under review by the campaign committee," adding, "It aims to strengthen existing youth employment service professionals and operate them integratively while expanding the program's expertise." The Youth Employment Guarantee System guarantees education, job placement, and employment incentives for a certain period to young people who have completed formal education but have not found employment. The core idea is for the government to intervene early in youth unemployment to induce national funding support and to strengthen the linkage with youth job policy programs scattered across various ministries.

The Democratic Party campaign committee also included plans to expand and reorganize the currently operating ‘Online Youth Center’ to enhance connectivity with over 300 youth centers scattered across central government ministries and local governments. The control tower for operating the Youth Employment Guarantee System is expected to be the Prime Minister’s Office Youth Policy Coordination Committee, which was reorganized following the passage of the Youth Basic Act in August last year.

This type of system was first introduced in Sweden in 1984 and was actively promoted at the European Union (EU) level in 2013, contributing to the reduction of youth unemployment rates. In South Korea, local governments have also attempted similar programs such as the ‘Daegu-type Youth Guarantee System (2018)’ and the ‘Jeju-type Youth Guarantee System (currently in 2021).’ Presidential candidate Lee Jae-myung also conducted active research on this at the Gyeonggi Research Institute during his tenure as Governor of Gyeonggi Province.

Candidate Lee has consistently emphasized the importance of state-led industrial transition and providing job creation opportunities. At a meeting held at Ulsan City Hall on the 12th of last month titled ‘Youth Ask, Lee Jae-myung Answers,’ he stated, "Young people today have far fewer opportunities compared to older generations, which intensifies competition," and added, "As a member of the vested generation, I also bear responsibility. My idea is to create new industrial transitions and job creation opportunities through the role of the state."

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