Pursuing Legislation for Intergenerational Retirement Age Extension... Launching "K-Youth Guarantee" for First-Time Job Seekers [Work Report]

The government will strengthen customized support by age group to expand employment opportunities for both young people and the middle-aged. A new “K-Youth Guarantee” will be introduced to support young people seeking their first jobs. To broaden opportunities for middle-aged workers to return to the workforce, the government will pursue legislation to extend the retirement age in a way that fosters intergenerational harmony.

Yonhap News

On August 4, Minister of Employment and Labor Kim Young-hoon reported these plans for the second half of the year’s work direction to President Lee Jae-myung at the State Guest House of the Blue House.

To increase youth employment, the government plans to establish a “one-stop youth employment support system” that closely connects each stage, from ▲facilitating entry into the labor market, ▲enhancing skills and experience, ▲expanding private and public sector jobs, to ▲creating conditions for continued employment—ultimately taking comprehensive responsibility for young people’s employment.

To this end, the “K-Youth Guarantee” will be established. Even young people with no prior work experience will be able to participate in the National Employment Support Program, where they will receive specialized support tailored to their situations, including career exploration, work experience and training, and employment connection. To help young people gain practical experience and skills, public sector work experiences (20,000 positions across all ministries), private sector opportunities (45,000 positions), and the large enterprise-led “K-New Deal Academy” will all be expanded. The target for this year is 10,000 participants. A tentatively named “Playground” initiative will also be launched to connect young people to employment and start-up opportunities at outstanding government-supported companies, such as smart factories. In addition, each ministry and public agency will identify and create new public jobs tailored to the demands of young people. Incentives for employment and retention at local small and medium-sized enterprises (SMEs) will be strengthened through measures such as broadening the coverage and increasing the amount of the Young Job Leap Incentive Scheme.

To diversify opportunities for middle-aged workers to return to work, the government will gradually expand the mandatory scope of reemployment support services—from companies with 1,000 or more employees now, to those with 500 or more employees by 2027, and ultimately to those with 300 or more employees by 2029. In addition, the government will promote legislation to extend the retirement age in a way that encourages intergenerational harmony, based on social consensus. To balance this reform with youth employment, the government will cooperate with relevant ministries to improve management of staffing and total labor costs at public institutions, and will promote youth employment in the public sector by strengthening the effectiveness of the mandatory youth employment quota system.

To enable employment centers to focus on their core roles—such as supporting jobs for young and middle-aged people—a “Personal AI Employment Center” will be developed to automate benefit administration, including unemployment benefits. The centers will offer comprehensive, lifetime employment care services—from graduation to retirement—to the 2 million people who visit every year.

This content was produced with the assistance of AI translation services.