'It's Great to Be a Busan Youth' ... 2023, the First Year of Youth Settlement

The 1st Youth Policy Coordination Committee Meeting Held

Announcement of the 2023 'Youth G-Dae' Construction Plan

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongguk Lee] Busan City announces the ‘2023 Youth Gdae Establishment Plan’ focusing on four major areas: jobs, living, activities, and governance.

Busan City Hall.

▲ Busan City's youth policy brand building a solid foundation for Busan youth

On the 25th at 4 p.m., the city will hold the ‘2023 1st Youth Policy Coordination Committee’ meeting chaired by Mayor Park Hyung-joon in the large conference room on the first floor of City Hall to evaluate the 2022 youth policies and discuss the announced ‘2023 Youth Gdae Establishment Plan.’

The ‘Youth Coordination Committee’ is a participatory governance body that deliberates on major matters related to Busan’s youth policies, enabling youth-led decision-making. The current 3rd Youth Coordination Committee, launched in August last year, consists of 20 members including youth, youth policy experts, and public officials.

The city analyzes that amid rapid socio-economic changes, prolonged COVID-19, and the complex crisis of the three economic highs (high interest rates, high prices, high exchange rates), youth face increasingly difficult situations regarding jobs and housing issues.

Accordingly, since last year, Busan has been actively promoting policies to establish a stable foundation for youth settlement through the Busan youth policy ‘Youth Gdae,’ enabling youth to embrace dreams and hopes for the future as members of the local community and take a leap forward.

This year, Youth Gdae will invest a total budget of 223.3 billion KRW in 121 projects across 25 key tasks in four major areas: jobs, housing & living, culture & activities, and participation & rights, pursuing ‘youth-centered, youth-friendly, and youth-tailored’ policies.

◆ Jobs (Good job) sector

In the jobs sector, the main reason youth leave the region, the city will raise the level of Busan youth job projects to meet youth expectations.

By reorganizing the region-led youth job projects, up to 430 companies will be selected with minimum annual salaries raised from 24 million KRW (previously 22.5 million KRW) to a maximum of 28 million KRW (previously 24 million KRW), spreading youth’s aspiration for higher salaries. The number of 3-month work experience jobs will be significantly reduced, while 2-year regular positions will be expanded to connect quality jobs.

▲ ‘23 Region-led Youth Job Project Reorganization: about 2,000 people (37.8 billion KRW)

Key sectors: ① Data, 5G, AI (about 500 people, 11.1 billion KRW) ② Machinery, shipbuilding, automobile (about 280 people, 5.2 billion KRW) ③ Culture/Tourism (about 180 people, 3.2 billion KRW), etc.

To improve perceptions of local companies, corporate visits will be conducted for 100 excellent small and medium-sized enterprises located in the Busan, Ulsan, and Gyeongnam areas, targeting about 2,500 youth. The city will continuously discover attractive companies and provide information youth want to know, and awards will be given based on youth job contribution criteria.

The city will also operate a Waterloo-style Co-op program, an industry-academia-linked curriculum using co-op programs in collaboration with local governments and companies, innovating university bachelor’s courses to cultivate practical talents immediately employable in the field.

The Co-op program alternates between theoretical semesters and field training semesters, enabling students to acquire practical skills and academic knowledge.

◆ Housing & Living (Good life) sector

Policies to alleviate youth housing cost burdens will continue, expanding housing welfare for vulnerable youth and extending housing policies up to the stage of home ownership.

The ‘Busan Youth Double Joy Savings Account,’ which last year had a competition rate of 9:1 and allows saving up to 5.4 million KRW with a maximum receipt of 10.8 million KRW, will recruit 4,000 new participants this year to support youth asset formation.

Support for early repayment of student loans will be provided to those who have faithfully repaid, aiding youth credit recovery. For youth preparing for independent living without support bases, close-to-life support such as meal expenses and health checkup costs will be offered. A ‘Welcome Box’ containing necessary items including a youth living guidebook will be distributed to youth who have relocated to Busan to encourage stable settlement.

The ‘Lucky Seven House Support Project’ will be actively promoted for 300 newlywed couples, and the ‘Busan Hope Plus Apartment Project’ will lease and sell private rental housing in commercial areas near subway stations to youth at about 80% of market prices.

◆ Culture & Activities (Good play) sector

In the culture and activities sector, neighborhood youth spaces will be activated based on a 15-minute living radius, and a street dance festival will be held to create a Busan youth cultural hub area, making it a cultural street where youth can freely enjoy and keep returning.

The participation allowance for youth who have given up job seeking will be raised from 200,000 KRW to 500,000 KRW, and a 5-month long-term program will be introduced to support successful social entry. The ‘Mind Connection’ project will revitalize youth in policy blind spots to support social re-entry of low-activity youth.

Additionally, youth employment challenge projects will be promoted through expanded operation of Shinsegae I&C Busan Campus and Sparos Academy, and a 10-year World-Class Talent Development Project will be operated to create a strategic growth ladder from youth social entry to producing innovative startups.

◆ Participation & Rights (Good voice) sector

In the participation and rights sector, policies will be established reflecting youth perceptions and demands from the policy design stage to foster youth self-reliance, and publicity will be expanded so that all youth can tangibly feel the effects.

A five-year basic youth policy plan for 2024?2028 will be established to prepare a mid- to long-term youth policy roadmap, and through the promotion of 3,000 youth panels (second year), continuous tracking and repeated surveys on youth life status and changes will be conducted.

A digital membership system linked with digital cards for youth will be introduced to provide various benefits. The 5th Youth Week will be jointly hosted by the government and Busan City, preparing nationwide youth programs and on/offline events in a substantial manner to expand youth participation.

To ensure all youth are informed, youth policy promotional materials will be displayed using a youth-targeted store sales management system monitor, and outreach briefings will be held for high school students planning to enter youth, intensifying promotional efforts.

Mayor Park Hyung-joon said, “We will make 2023 the first year of youth settlement for Busan, a city where people want to live again and a global hub city, creating a Busan where dreams can come true. We will not stop building a solid Youth Gdae until all Busan youth evaluate it as Good.”