South Korea's Ministry of Economy and Finance outlined priorities for strengthening youth support across housing, employment and access to finance at a discussion at Startup Venture Campus Seoul. First Vice Minister Kwon Dae-young emphasized assistance tailored to different stages of life, from entering employment or starting a business to securing housing and accumulating assets. The previously presented 2027 budget proposal includes an expansion of work experience, training and job search support to 722,000 people, from 564,000 in 2026. Youth employment incentives would extend nationwide from outside the capital region, with the annual maximum rising to KRW 9 million from KRW 3.6 million. Funding for the Youth Future Savings program would increase to KRW 1.7 trillion from KRW 700 billion. Public rental housing supply would rise to 106,000 units from 71,000. Participants called for stronger links between work experience and employment, startup support suited to artificial intelligence, relief from rising rental costs and assistance with asset building. Kwon emphasized additional support for young people entering society, restarting after failure, experiencing prolonged inactivity or facing regional disadvantage. He also pledged to check whether support tailored to different life stages is working in practice.
South Korea's Ministry of Economy and Finance outlines youth support priorities for housing, employment and asset building
South Korea's Ministry of Economy and Finance outlined youth support priorities at a discussion led by First Vice Minister Kwon Dae-young, emphasizing employment, housing and asset building. The previously presented 2027 budget proposal would expand employment support, raise the annual youth employment incentive ceiling to KRW 9 million and increase savings program funding and public rental housing supply. Kwon also emphasized additional assistance for young people facing barriers to entering work or restarting after setbacks.