Up to 195.82 Million Won in Benefits by Age 34... 43 Trillion Won Youth Budget Set for Next Year [2027 Budget Plan]

The youth support budget for next year has been set at 43.3 trillion won, a dramatic increase of 53.5% compared to this year. Through customized support across all stages of life—from employment and entrepreneurship to education, housing, marriage, and childbirth—each young person can receive benefits of up to nearly 200 million won by age 34.

Job seekers visiting the 2025 Mid-sized Company Job Fair held at COEX in Gangnam-gu, Seoul on the 23rd are looking at the job posting board. 2025.4.23 Photo by Cho Yongjun

On September 1, the government deliberated and approved the 2027 budget plan, which includes these measures, during a Cabinet meeting held at the Blue House. Investment related to youth will increase by 15.1 trillion won, from 28.2 trillion won this year to 43.3 trillion won next year. Through tailored support throughout the entire life cycle—from birth and childcare to education, job-seeking, asset building, housing, and marriage—each young person is expected to receive benefits worth up to 140.57 million won by age 18, and nearly 195.82 million won by age 34.

To help young people smoothly enter the workforce, 50,000 individuals will receive customized job training such as the "K-New Deal Academy," and the government will fully support the "First Career Project" for 60,000 university students. Small and medium-sized as well as mid-sized companies will receive an annual hiring incentive of 7.2 million won. For young entrepreneurs in the early stages of starting a business, the government will cover 60–80% of their monthly insurance premiums.

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As a new measure to support asset building, the "My Child Independence Fund" will allow both the government and parents to make joint contributions and investments from a child's birth until age 18. Upon maturity, recipients can receive between at least 60 million won and up to 100 million won. For young people preparing for employment or entrepreneurship, the "Youth Opportunity Fund" will offer interest-free grace periods, and financial support will be expanded through measures like the "Youth Future Savings" program and increased ISA income tax deductions. For young men in military service, the "Soldiers' Tomorrow Preparation Savings" accounts will receive 100% government matching contributions on savings up to 550,000 won per month.

Groundbreaking new benefits have been introduced to address low birth rates. Upon marriage, a one-time "Marriage Support Grant" of 1 million won will be awarded, and starting in July next year, the government will introduce the "Child Support Grant," which will provide 10–20 million won divided into four payments for each childbirth. Additionally, a new "Basic Child Allowance" will be implemented, offering up to 600,000 won per month for children aged 0–1, and up to 300,000 won per month for children aged 2–12.

To finance these initiatives, the government plans to create a new "Future Response Fund," using additional tax revenue as its main resource, with the aim of reliably supporting youth employment, entrepreneurship, housing, and asset building.

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