S. Korea vows tailored support for youth employment amid job market challenges

<Seoul, Aug. 28 (Yonhap) -- South Korea announced a comprehensive plan to assist young people in finding jobs and advancing their careers, the finance ministry reported on Friday, amid ongoing difficulties facing 20-somethings in the job market. The Ministry of Finance and Economy unveiled measures to address the challenges faced by this demographic as they continue to struggle with economic uncertainty.

Statistics revealed that the employment rate for individuals aged 20 to 24 declined to 41.3 percent in the second quarter, falling short of the 2025 average of 43.6 percent. Similarly, the rate for those aged 25 to 29 stood at 71.5 percent, slightly below the 71.8 percent recorded last year. The government's efforts come as the number of people classified as "just resting," meaning they are not actively seeking work, remained significant.

The data showed that the number of young people aged 15 to 29 in this category amounted to 378,000 in the second quarter, representing a slight decrease of 28,000 compared to the previous year, yet it remained a concern.

The blueprint aims to tackle three primary challenges: businesses' tendency to favor experienced workers over newcomers, the scarcity of jobs offering competitive working conditions, and the lingering career gaps resulting from the COVID-19 pandemic. The plan focuses on providing job training tailored to the demands of the labor market, nurturing skilled workers in emerging sectors, and facilitating young people's job searches and entry into the workforce.

The finance ministry emphasized its commitment to bridging wage and working condition discrepancies and creating quality jobs that appeal to young individuals.

Furthermore, the government pledged to enhance the working conditions of those who secure employment and support them in developing skills necessary for continued growth. Specific initiatives include training 300,000 skilled workers in sectors favored by young people by 2030, with a focus on emerging industries such as artificial intelligence, which are key to the country's three mega-project initiatives.

Additionally, a new platform called "Youth Playground" will be established to provide mentoring and other employment-related opportunities. The government aims to generate 200,000 jobs by 2030 in both the private and public sectors for individuals trained through its programs. Other initiatives include the Jump-Up program, which will offer young employees mentoring and comprehensive training opportunities, ultimately helping them transition from smaller companies to larger enterprises.