Kwon Dae-young, the First Deputy Minister of the Ministry of Economy and Finance, stated on October 27, "We will strengthen lifecycle-based support centered on three core social policies that are fundamental to the lives of young people."
During his visit to the SVC Seoul startup support facility in Mapo-gu, Seoul, Kwon held a discussion with young people, including university students and entrepreneurs. This meeting marked Kwon's first on-site engagement aimed at gathering youth opinions on the three core social policies.
Kwon observed demonstrations of services from youth startups, including AI-based housing search and public project matching services. He noted that while young people possess exceptional capabilities and ideas, they face challenging environments.
He remarked, "I support the challenges and achievements of young entrepreneurs who integrate AI technology with new ideas, and I will continue to support the fields of entrepreneurship and re-entrepreneurship so that any young person with an idea can start a business."
During the discussion, young participants suggested that the government should focus on enhancing support for: 1) initial employment assistance and linking work experience to employment; 2) establishing a youth entrepreneurship support system suitable for the AI era; 3) alleviating housing instability due to rising rent prices; and 4) asset formation in preparation for early career entry and life transitions.
The government plans to significantly increase the youth budget for the upcoming year to bolster support for youth growth. Additionally, it aims to provide step-by-step assistance from initial employment and entrepreneurship to asset formation, continuously monitoring the effectiveness of policies in the field. The feedback gathered will be incorporated into youth policy discussions with relevant ministries.
Kwon emphasized, "We will not spare support for young people facing vulnerable conditions, such as those entering society for the first time, those attempting to rebound after failure, and those in long-term unemployment or regional isolation. The government will serve as a strong support system in the most challenging situations, ensuring that they can rise again without being stigmatized for a single setback."
* This article has been translated by AI.
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