Up to 3.6 Million Won in Job-Seeking Allowance for Young People with No Work Experience... First 30,000 Applicants

\r\n[The Financial News] The Ministry of Employment and Labor (MOEL) will temporarily expand the scope of the National Employment Support System (NESS) to include young people with no work experience. The program is aimed at low-income young people with no employment insurance history. Those selected among the first 30,000 applicants will be able to receive the same benefits as the existing NESS, including 3.6 million won in job-seeking promotion allowances over six months. An extra 78.6 billion won in supplementary budget funds will be used for the support.
MOEL said on the 28th that it has been accepting applications since the 27th at Employment Centers nationwide and on the Employment 24 website for Type 1 (selection-based) support under NESS for young people with no work experience.
Support will be provided to the first 30,000 applicants, and the program may close early if the target is reached under the limited budget.
Eligible applicants are low-income young people with no work experience. Until now, this has applied to young people with no employment insurance history who met the existing Type 1 income requirement of 120% or less of median income and asset requirement of 500 million won or less. The existing Type 1 program has required a certain period of employment history, but this measure is seen as focusing on support for young people entering the workforce for the first time, as it targets those with no employment insurance enrollment history.
A MOEL official explained, "The government is opening the door for young people with no work experience to receive Type 1 support under the National Employment Support System so that it can boost the job-seeking motivation of young people preparing for employment and ease their financial burden."
Young people selected for the program will receive the same benefits as the existing Type 1 support. They can receive a monthly job-seeking allowance of 600,000 won for six months. In addition, those with dependent family members will be eligible for a family allowance of 100,000 won per person per month, up to 400,000 won, as well as an employment success bonus of 500,000 won to 1 million won depending on the length of employment retention.
Lim Young-mi, Director-General of Employment Policy at MOEL, said, "We hope that the additional youth selection through this supplementary budget will serve as a real ladder for young people struggling in a difficult job market," and added, "We hope for active participation from young people."
jhyuk@fnnews.com Kim Jun-hyuk Reporter