Government and Major Corporations Join Forces to Foster Youth... Launching the "K-New Deal Academy"

Ministries of Industry and Labor to Recruit Participating Companies and Operating Organizations
Company-Led Job Training and Youth Stipend Support

Yonhap News Agency

The government and large corporations are set to collaborate on the “K-New Deal Academy,” a project that will provide youth-oriented, customized job training programs.

On April 21, the Ministry of Trade, Industry and Energy and the Ministry of Employment and Labor announced that, in cooperation with the Korea Research Institute for Vocational Education and Training, they will begin accepting applications for operating support organizations and companies participating in the “K-New Deal Academy” project—which aims to strengthen job-seeking capabilities among young people—from April 22 to May 22.

The “K-New Deal Academy” is a project led by major corporations and key industry players, who will design and operate company-specific job training programs and various initiatives. The goal is to support young people in entering the labor market smoothly. This initiative is being newly launched through an additional supplementary budget.

Eligible companies include large corporations as well as leading businesses in each industry and region that have demonstrated competitiveness, recognition, and the capability to operate youth-focused programs. Companies may participate individually or as part of a consortium, and are free to develop job training courses and support programs tailored to their respective areas of strength.

The government plans to provide financial support to companies for operating the academy and will offer stipends to participating youth. In particular, additional assistance will be provided for establishing academies outside the Seoul metropolitan area, with the aim of expanding participation among young people in regional areas.

The operating support centers will be responsible for assisting companies with academy operations and for promoting the program. Organizations applying for this role must have a clear understanding of and experience with vocational capacity development projects, and must submit a joint application together with companies wishing to participate.

Companies wishing to apply should prepare an academy operation plan, while organizations seeking to participate as operating support centers must submit a designated application form along with the participating company’s program operation plan. All application materials should be emailed to the Korea Research Institute for Vocational Education and Training by 5:00 p.m. on May 22.

The government will focus its review process on whether the proposed programs are “company-specific courses” that reflect each company’s unique strengths in job competency, infrastructure, and organizational culture.

In addition, a project briefing session will be held in Seoul on April 29 to provide detailed information. Related materials will be available on the websites of the Ministry of Employment and Labor and the Korea Research Institute for Vocational Education and Training.

Lee Minwoo, Director of Industrial Policy at the Ministry of Trade, Industry and Energy, stated, “Through the K-New Deal Academy, young people will be able to gain practical work experience without career interruptions, while companies will be able to enhance the job competencies of potential talent. We look forward to the active participation of companies in creating a virtuous cycle of mutual growth between industry and talent.”

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