Business Community Responds to Government's 'Youth New Deal'... "Will Do Our Best for Young People's First Step into Society"

The business community has welcomed the government's announcement of the "Youth New Deal Initiative," stating that it will provide tangible employment opportunities for young job seekers.

On April 29, the Korea Economic Association commented on the government's Youth New Deal Initiative, saying, "The Youth New Deal is a cooperative model in which companies develop training programs that reflect on-site demands, and the government provides support. We expect this to offer practical training and work experience opportunities for young people preparing to enter the workforce."

The association added, "We hope the government will provide full-scale support for corporate training programs to ensure the successful implementation of the Youth New Deal. The business community will do its utmost to develop more diverse and effective training courses so that young people can confidently take their first steps into society."

On the 28th, attendees are entering the '2026 Korea Win-Win Job Fair' venue at the aT Center in Yangjae-dong, Seoul. Korea Economic Association.

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On this day, the "Public-Private Joint Youth New Deal Briefing Session" was held at the '2026 Korea Win-Win Employment Fair' venue at the aT Center in Yangjae-dong, Seoul. The event was attended by Deputy Prime Minister and Minister of Economy and Finance Koo Yooncheol, Chairman Ryu, and representatives from the five major business groups (Samsung, Hyundai Motor, LG, SK, Hanwha). At the briefing, the government, business community, and youth gathered to discuss ways to expand youth employment and to announce the Youth New Deal implementation plan.

The Ministry of Economy and Finance announced plans to provide vocational training and education programs for 19,000 young people, and to increase the number of work experience programs by 23,000. In addition, the ministry plans to expand recovery programs for approximately 11,000 young people re-entering society. Furthermore, the number of recipients for job search promotion subsidies and other types of support will be increased by 30,000.

Chairman Ryu responded, "Looking at the March employment figures, the total number of employed people increased compared to last year, but youth employment decreased by about 140,000. In such times, it is truly fortunate and timely that the government and companies are coming together as 'one team.'"

He added, "The business community never forgets that providing jobs is the greatest form of welfare and the most important mission for companies. This year, the top 10 business groups will hire a total of 52,000 people, an increase of 2,500 compared to last year, despite the challenges." He also urged the government to "create an even more business-friendly environment."

Meanwhile, at the Korea Win-Win Employment Fair, which is currently in its second day, 15 major domestic conglomerates-including Samsung, SK, Hyundai Motor, and LG-have come together for the first time to actively support their partner companies in recruiting talent. This year’s fair is the largest ever, with around 700 companies participating both online and offline. Over the two days, April 28 and 29, approximately 5,100 people pre-registered for the fair, more than double last year's attendance.

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