Next Year's Youth Job Budget 4.4 Trillion Won... Employment Minister: "Substantial Help for Job Seekers with 'Quality Jobs'"

Minister An Kyung-duk Meets Young Job Seekers at Soongsil University on the 16th

Minister of Employment and Labor, An Kyung-duk. / Photo by Moon Ho-nam munonam@

[Sejong=Asia Economy Reporter Moon Chaeseok] The government announced on the 16th that it plans to invest about 4.4 trillion won in the youth employment budget next year to support job seekers in obtaining "quality jobs."

The Ministry of Employment and Labor stated that Minister Ahn Kyung-deok held a "Youth Job Seeker Meeting" at Soongsil University on the 16th, where he provided information on next year's youth employment budget and listened to the difficulties faced by job seekers.

The ministry explained that the youth employment project budget for next year, passed at the National Assembly plenary session on the 3rd, amounts to 4.4175 trillion won, an increase of 131.8 billion won (3.1%) compared to this year.

As part of supporting corporate job creation, the ministry announced the establishment of a new "Youth Employment Leap Incentive" worth 500 billion won. This program will provide wage support of 800,000 won per month for 12 months per person when promising small and medium-sized enterprises with five or more employees hire youth workers. The target number of supported youth is 140,000. Additionally, 1.3 trillion won will be invested in the Youth Tomorrow Savings Program to help young workers in SMEs build assets, targeting 70,000 youth. A new "Youth-Friendly Corporate ESG (Environment, Social, Governance) Support Project" worth 17 billion won will also be launched.

Other initiatives include ▲ Strengthening new industry talent development (expanding the K-Digital Training support target by 11,500 people and K-Digital Credit by 20,000 people compared to this year) ▲ Enhancing job seekers' employment capabilities (expanding the National Employment Support System Type 1 Youth Special Case, which provides 500,000 won per person for six months, from 100,000 to 170,000 people).

Minister Ahn also informed job seekers at the meeting about this year's achievements, including K-Digital Training (9,799 trainees) and the National Employment Support System (252,000 participants). He emphasized, "With the youth policy budget expanded to about 4.4 trillion won next year, we will reflect the opinions of young people in the planning and execution of projects to implement policies that provide practical help."

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