Gwangju City to Strengthen Youth Employment and Welfare Policies This Year

“Gwangju by Youth’s Side” Initiative Launched
Job Search Allowance Increased to 3 Million Won
500 Participants in Youth Job Savings Program

Kang Kijeong, mayor of Gwangju, attended the 39th Monday Dialogue held on the afternoon of July 22 last year at the Gwangju Youth Job Station Sangmu Center in Seo-gu, discussing the theme "Reviving Small and Medium Enterprises and Retaining Youth." Provided by Gwangju City

The city of Gwangju announced on the 12th that it will fully implement the “Gwangju by Youth’s Side” initiative this year, which significantly strengthens essential welfare policies and job support tailored to the needs of local young people to help them achieve independence and settle in the region.

The city is leading the way in creating “a Gwangju where young people want to work and settle down” by expanding job policies such as the Job Search Allowance (Dream Allowance), Youth Challenge Support Program, and Job Station, as well as introducing a variety of housing and welfare policies like the Gwangju-type Youth Job Savings Program, Youth 13 Savings Account, and Special Youth Monthly Rent Support.

The city supports local youth so they can quickly enter the job market while searching for employment. The Job Search Allowance (Dream Allowance) will be increased from 2.5 million won to 3 million won (500,000 won per month for six months). Individual counseling (consulting) and company visit programs will also be provided to assist with job hunting.

The Work and Experience Dream program now allows participants to choose between the existing 25 hours per week for five months or up to 40 hours per week for three months. If a participating company hires a youth for an additional year, up to 2.4 million won in incentives will be provided. The number of participants in the Job Station program will be increased from 7,000 to 8,000 to prevent youth from giving up on job searching. Additionally, workplace adaptation training, including for workers in industrial complexes, will help young people quickly adjust to their jobs and encourage long-term employment.

A customized support program will be provided for 180 young people who have given up on job searching or are preparing for independence, and the Youth Challenge Support Program will offer participation allowances and incentives ranging from 500,000 won to a maximum of 3.5 million won.

Various housing and welfare policies will also be implemented to support the independence and settlement of local youth. With the government’s youth savings program ending, the city will expand the “Gwangju-type Youth Job Savings Program” from 200 to 500 participants this year. In this program, if a youth working at a small or medium-sized company with five or more employees saves 5 million won over two years, the city and the company will each contribute 5 million won, providing a total maturity benefit of 10 million won. The Youth 13 (Work+Life) Savings Account will target 620 people, offering tailored financial education and a 1 million won city contribution if they save 100,000 won per month for 10 months.

To help young people establish a stable living foundation, the city will subsidize 2% out of the annual 2.5% interest on housing rental deposit loans for up to four years, within a budget of 5.5 billion won. The Special Youth Monthly Rent Support program will provide up to 200,000 won per month in rent for up to 24 months. This youth rent support is expected to benefit about 5,000 people, with additional applications for the first round being accepted until February.

The city operates the Youth Financial Counseling Center (Dream Bank), which acts as a financial safety net to address youth debt problems. The Military Service Youth Accident Insurance Program, which pays up to 30 million won in insurance benefits if an accident occurs during military service, will continue for the approximately 9,000 young people serving in the military each year.

Kim Kisook, Director of Education and Youth Affairs, stated, “Despite challenging financial circumstances, we have expanded and improved a variety of policies to support youth employment and welfare,” adding, “We will continue to do our best to develop policies that increase youth satisfaction.”

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