78% of Workers in Gyeongnam Benefit from Youth Tomorrow Employment Subsidy Program

At the 5th anniversary ceremony of the Youth Tomorrow Filling Deduction launch, Kim Hak-do, Chairman of the Korea SMEs and Startups Agency (first from the left), and other attendees are taking a commemorative photo. (Photo by Korea SMEs and Startups Agency)

[Asia Economy Yeongnam Reporting Headquarters, Reporter Jucheol In] It has been found that many workers in Gyeongnam who participated in the 'Youth Tomorrow Filling Deduction' program, which allows employees in small and medium-sized enterprises to accumulate a certain amount over two years and prepare a lump sum with government and corporate support, evaluated the program positively.

The Gyeongnam Employers Federation announced the results of a survey conducted from the 10th to the 15th among 94 companies and 190 workers participating in the Youth Tomorrow Filling Deduction program in the province through the federation on the 26th.

Regarding whether the Youth Tomorrow Filling Deduction helped with long-term employment and asset formation, 84.74% and 77.89% of workers responded positively, respectively.

When asked if they would continue working after the maturity of the Youth Tomorrow Filling Deduction, 73.94% of workers answered "Yes," while the remaining 26.06% answered "No."

Workers considering job changes or resignations expressed the need for supplementary measures such as welfare system support (43.68%) and improvement of working conditions (34.21%).

Also, 90.43% of companies participating in the Youth Tomorrow Filling Deduction evaluated that the program helped workers' long-term employment.

A representative of the Gyeongnam Employers Federation said, "Looking at the number of allocated participants in Gyeongnam over the past three years, it was 4,750 in 2019, 5,934 last year, and 4,670 this year. Although there are complex factors in determining the allocation, compared to other regions simply by population, the number allocated to Gyeongnam is relatively low, which is regrettable."

The Youth Tomorrow Filling Deduction program has been promoted since 2016 to provide youth aged 15 to 34 with opportunities for long-term employment and lump-sum savings, and to help companies secure excellent talent.

Youth employed in small and medium-sized enterprises can accumulate 3 million KRW over two years, and with support from companies and the government, form assets worth 12 million KRW.