On November 6, Minister of Employment and Labor Kim Young-hoon stated, "We will prepare a concrete plan to ensure that the economic growth results from the 'National Job Project' translate into local job opportunities."
Minister Kim hosted an 'Employment Trends Meeting' attended by experts from major research institutions, including the Korea Labor Institute, the Korea Development Institute, the Korea Research Institute for Vocational Education and Training, and the Bank of Korea.
During the meeting, participants shared insights on recent macroeconomic trends, evaluations of the labor market in 2026, and employment forecasts for 2027. They particularly focused on how the semiconductor industry and export growth are impacting hiring across sectors, as well as the challenges young people face in securing their first jobs and building careers. The meeting also reviewed the Ministry of Employment and Labor's major employment budget for 2027.
Minister Kim remarked, "The President has instructed us to concentrate government resources on three major livelihood projects: jobs, housing, and financial support for the underprivileged. I believe this is another mega project of the people's sovereignty government aimed at strengthening the foundation of citizens' lives." He added, "In the area of employment, we are preparing the 'National Job Project' in collaboration with relevant ministries. We will develop specific plans to expand job opportunities in both the private and public sectors, ensuring that the benefits of growth translate into jobs for partner companies and local communities."
The Ministry has submitted a budget proposal of 38.9537 trillion won for 2027 to the National Assembly. This includes 25.1484 trillion won for job creation programs, an increase of 629.4 billion won (2.6%) from this year. The focus is on expanding opportunities for young people to gain their first work experience and equipping citizens with the skills needed for industrial transitions.
A new support system for young people's first employment will be established, providing tailored assistance from career exploration to work experience, vocational training, and job placement, while also expanding opportunities for practical experience in companies. Training in artificial intelligence (AI) and advanced industries will also be enhanced to help individuals acquire the skills needed by employers and facilitate actual hiring.
To prevent the impacts of rapid industrial transitions from disproportionately affecting vulnerable groups, the employment safety net will be strengthened. Protections for labor providers will be reinforced, and support for employment and re-employment for people with disabilities and middle-aged individuals, as well as career maintenance for workers during maternity and childcare periods, will be expanded.
Additionally, the Ministry plans to enhance the functions of the Youth Employment Policy Office to better integrate with labor market policies and employment services. This will allow for a swift reflection of sector-specific hiring and job changes in youth employment policies, ensuring that young people can access a continuum of services from counseling to work experience, training, and job support through employment services.
Minister Kim concluded, "We will prepare budgets and policies to provide young people with their first career opportunities, offer vocational training for middle-aged individuals to maintain their careers in response to industrial transitions, and ensure a robust social safety net for vulnerable groups in the labor market. I will thoroughly explain the necessary support for the field and the intent of the government's proposal during next week's National Assembly budget review."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.