Creating 100,000 Jobs Target ... Daegu City to Invest 294.3 Billion Won to Provide Quality Jobs

Daegu City Hall.

[Asia Economy Yeongnam Reporting Headquarters, Reporter Yeo Jong-gu] Daegu City announced on the 12th that it will invest 294.3 billion KRW aiming to restructure the regional industrial structure and create 100,000 transition jobs.

To overcome the outflow of local youth and the employment crisis, the city has established five major investment strategies in the job sector and decided to put all efforts into maximizing the effects of projects by strategy, targeting 100,000 jobs and voluntary private employment activation.

First, through the Daegu-led youth job project, the city will help young people settle in Daegu by creating 3,500 jobs, including 3,250 new jobs in private companies in future new industries and 250 jobs in startup company growth.

Each local government designed the project, and after a government top-down competition, the ‘Local-led Youth Job Project’ competed this year. Competing for a total national subsidy of about 240 billion KRW nationwide among 17 cities and provinces, Daegu secured the second largest national subsidy of 28.6 billion KRW. The city will invest a total of 59.1 billion KRW including city funds to promote 86 detailed projects tailored to regional characteristics.

The city will invest 5.9 billion KRW in ‘Regional and Industry Customized Job Projects’ for new growth and core infrastructure industries. Through employment innovation projects, policy development, employment environment improvement, corporate support, and employment linkage, 1,200 customized jobs for local youth will be created.

Youth in vocational high schools will be provided with stable job guarantees from their high school years and opportunities for industry-customized university admission through the ‘Vocational Education Innovation Zone Project.’ In cooperation with the Ministry of Education, the Office of Education, industrial complexes, companies, and universities, a total of 1.4 billion KRW including 200 million KRW from city funds will be supported this year.

Daegu City will promote the ‘Middle-aged and Senior Employment Support Project’ including support funds for regular job conversion and employment retention incentives. It will support 200 middle-aged and senior people to re-enter employment in small and medium-sized enterprises.

Additionally, the city will carry out the ‘Innovative Professional Personnel Recruitment Support Project’ to enable middle-aged and senior people to utilize their career and experience in specialized fields such as research and management, and support 455 people with 2.72 billion KRW through ‘New Middle-aged Job Projects’ including corporate customized consulting and social contribution.

This year, a new ‘Re-Start 4050 Employment Linkage Job Support Project’ has been prepared to systematically support middle-aged and senior job seekers with counseling, career diagnosis, customized education and training, corporate employment linkage, and post-employment settlement for their second leap forward.

To practically support the re-leap of middle-aged and senior people, the originally planned 75 people and 500 million KRW in city funds will be significantly increased to 150 people by reflecting an additional 700 million KRW in the supplementary budget.

1.138 trillion KRW will also be invested in the ‘Senior Job Project’ in response to the entry into a super-aged society.

Daegu and Gyeongbuk’s seven universities with about 15,000 students will be linked with 50 local private and public companies to operate the ‘University Recruit Tour.’

With 150 vocational high school students participating in ‘Industrial Complex On-site Learning Employment Support’ and 700 job-preparing youth targeted by the ‘Youth Themed Employment Support Program,’ a total of 760 million KRW will be spent to change youth perceptions of local companies and provide quality job information.

Through the Daegu Regional Human Resources Development Committee, local universities, training institutions, and digital leading companies will cooperate. A total of 28.38 billion KRW will be invested in various projects to strengthen employment capabilities, including 3,100 people in various job training tailored to industry characteristics such as ‘K-Digital Training,’ 370 people in Microsoft’s ‘Daegu AI School’ and HuStar Academy, and 170 people in the startup sector ‘Technology Talent Development.’

The city will actively pursue job creation and sustainable growth in the startup and social economy sectors, which are new paradigms replacing existing jobs.

A total of 28.2 billion KRW will be invested, including 3 billion KRW for ‘Innovative Startup Ecosystem Construction,’ 1.8 billion KRW for ‘Post-COVID Startup Venture Fund Formation,’ and 2.3 billion KRW for ‘Next-generation Leading Technology Development Projects.’ The city plans to respond to the demands of rapidly changing future industrial transformations by creating a startup company scale-up ecosystem.

To help social economy companies take root locally, the city aims to create more than 10,000 jobs through 7.4 billion KRW for ‘Social Enterprise Jobs and Financial Support,’ 1.64 billion KRW for ‘Village Enterprise and Cooperative Promotion,’ 1.4 billion KRW for ‘Social Economy Support Center Operation,’ and 12.8 billion KRW for ‘Activation of Social Economy Distribution Support Center and Establishment of Public Procurement Online Platform.’

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