Gov't unveils 2027 budget plan to support youths at different life stages
SEJONG — Korea on Friday unveiled part of its 2027 budget plan aimed at supporting young people, pledging to allocate 43.3 trillion won ($31.4 billion) for tailored fiscal support at different stages of their lives. The budget proposal, unveiled by the Ministry of Planning and Budget during the "2027 Youth Budget Unboxing" event at the presidential office earlier in the day, marks a 53.5 percent…
Seoul — The Korean government unveiled a portion of its 2027 budget plan on Friday, dedicated to providing financial assistance to young individuals at various stages of their lives. The Ministry of Planning and Budget presented the proposal at the 2027 Youth Budget Unboxing event held at the presidential office. This plan represents a 53.5% increase from the 28.2 trillion won allocated for related projects this year, totalling 43.3 trillion won.
The government's focus on young people stems from the challenges they face, such as delayed entry into the job market due to shifts in the industrial structure and increasing difficulties in accumulating assets. Existing youth policies have not adequately addressed these changes, and young people have reported difficulties in accessing timely support, as policies have primarily been implemented through individual programs.
The 2027 budget plan aims to tackle these issues by adopting a new government approach that views young people not as a homogeneous group, but as individuals with unique needs and circumstances.
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