Ministry of Economy and Finance to Reflect Youth Voices on Policies for Low Birthrate and Asset Formation

The government will actively reflect youth opinions in major policies such as low birthrate and asset formation.

On the 21st, the Ministry of Economy and Finance announced that it held the '2nd Ministry of Economy and Finance 2030 Advisory Group Policy Proposal Presentation' chaired by First Vice Minister Kim Byunghwan. This presentation was held for the second time following March as part of the activities of the Ministry of Economy and Finance 2030 Advisory Group, launched last November to expand youth participation in national affairs.

At the first presentation, the Ministry proposed various policies in four areas: jobs, housing and assets, education, and welfare and daily life. Some proposals, such as expanding income tax reductions for young workers employed by small and medium-sized enterprises, have been reflected in actual policies.

At this second presentation, the 2030 Advisory Group selected five areas?low birthrate, venture startups, asset formation, economic education, and public internships?where it was deemed necessary to focus on youth opinions regarding Ministry policies. They prepared policy proposals incorporating youth voices by receiving advice from youth officials in charge of each area and experts.

Kim Byung-hwan, Vice Minister of Strategy and Finance, is delivering a welcome speech at the '2030 MOEF Advisory Group Policy Proposal Presentation' held on the 21st at the Government Seoul Office in Jongno-gu, Seoul.

On the day, the low birthrate division proposed youth-desired policies such as activating flexible working hours during childcare and expanding public wedding halls. The venture startup division suggested support measures for domestic startups expanding overseas, including establishing grounds for support and strengthening integrated overseas expansion support for young entrepreneurs. The asset formation division announced measures to reduce housing cost burdens for young adults starting their careers, such as brokerage fee and moving cost support for low-income youth.

The economic education division proposed strengthening investment education related to long-term asset formation and expanding incentives for participation. The public internship division suggested measures to enhance the public institution youth internship system from the youth perspective, including strengthening internship education and providing opportunities to experience various departments.

Vice Minister Kim said, "This presentation is a meaningful occasion where the youth, who are the subjects of the policies, directly propose policies and discuss them with policy officials," adding, "We will carefully review and develop the proposed tasks so that the voices of youth proposed today can be fully realized in policies."