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, South Korea announced a significant portion of its 2027 budget plan on Friday, dedicated to supporting youth at various life stages. The Ministry of Planning and Budget unveiled the allocation, totaling 43.3 trillion won ($31.4 billion), which represents a 53.5 percent increase from the 28.2 trillion won allocated for similar projects this year.
The budget proposal was showcased at the 2027 Youth Budget Unboxing event held at the presidential office. The Ministry cited the delayed entry of young people into the job market due to shifting industrial structures, and the growing challenges they face in building assets as key factors in this increased investment. Existing youth policies have not adequately addressed these changes, as they were largely implemented through individual programs.
The Ministry emphasized that the 2027 budget plan marks a shift in the government's approach toward young people, viewing them not as a homogeneous group, but as individuals with unique challenges and needs.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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