Government to Prepare Additional Employment Support Measures for Youth Facing 'Triple Whammy'

The government announced today (June 17) that it will prepare additional support measures to help restore youth employment.

The government reached this decision after diagnosing that young people are facing a "triple whammy" in the job market due to demographic and industrial structural changes, the spread of hiring practices favoring experienced workers, and the impact of the war in the Middle East. This assessment was made during a joint task force (TF) meeting on jobs held today at the Government Complex Seoul, co-chaired by Lee Hyung-il, First Vice Minister of Economy and Finance, and Kwon Chang-jun, Vice Minister of Employment and Labor.

Currently, the government is promoting youth "New Deal" policies centered on initiatives such as the K-New Deal Academy and tax arrears management teams, but it plans to devise new programs to further support youth employment.

For major industries such as manufacturing, construction, and agriculture, which are experiencing deepening business slumps due to the prolonged war in the Middle East or have a high share of employment, relevant ministries will analyze trends and mobilize all available policy tools to introduce countermeasures.

The government also plans to strengthen communication with industrial sites and enhance employment-related incentives.

Furthermore, the government will provide support for workers who need to transition their job functions in line with changes in labor demand related to industrial shifts, such as Artificial Intelligence Transformation (AX) and Green Transformation (GX).

In addition, the government will soon announce a "Basic Plan for Industrial Transition and Employment Stability," which includes measures to strengthen workers' transition capabilities, support job changes and transfers, and build employment safety nets and policy infrastructure.

For the time being, the job task force will hold weekly meetings to discuss response measures and will frequently introduce countermeasures following Economic Ministers' Meetings.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.