Park Hong-geun, Minister of the Ministry of Planning and Budget, emphasized the need for proactive large-scale investments on September 14 at Korea University, stating, "To become an irreplaceable Republic of Korea, we must prepare for structural transformation as part of our national development strategy for 2045."
During his visit, themed "Asking and Answering the Future from the Youth's Perspective," Park first met with student council members at the university's student center, sharing a breakfast of '1,000 won morning meals' and listening to their concerns about the rising cost of living.
Students have been struggling with the financial burden of living expenses, including food, transportation, and housing, while balancing their studies and job preparations. In response, the government plans to increase the subsidy for the '1,000 won morning meal' program from 2,000 won to 3,000 won in the 2027 budget to alleviate some of this burden on university students.
Following the breakfast, Park delivered a special lecture to the Korea University community on the topic of "The Path Forward for South Korea in the Era of Transformation." He reflected on the country's growth trajectory and discussed future industries such as semiconductors, K-culture, and artificial intelligence (AI).
Park stressed the necessity of proactive large-scale investments to respond to the challenges of an "irreplaceable Republic of Korea" and highlighted the importance of adapting to changes through the 2045 national development strategy. He stated, "To respond quickly to the new order, we need to actively utilize the 2027 budget and future response funds for large-scale investments," and called for structural reforms, including the revision of local education financial grants to address anticipated demographic changes.
After the lecture, Park visited 'Anam Living,' a youth housing facility near Korea University, to assess the living conditions for young residents. Anam Living has been repurposed from an oversupplied tourist hotel into dormitory-style housing for university students, young entrepreneurs, creators, and artists.
During his visit, Park reviewed the operational status of the youth housing and discussed with officials the direction of housing support to ensure young people can live stably.
The Ministry of Planning and Budget plans to continue gathering feedback on the challenges faced by youth and their policy needs, aiming to expand government support that young people can feel in their daily lives and to provide opportunities for future preparation.
* This article has been translated by AI.
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