Yoon: "Expanding National Scholarships to 1.5 Million Students... Full Tax Exemption on Corporate Childbirth Support Funds"

17th Public Discussion in Gwangmyeong, Gyeonggi
Establishment of Housing Scholarship, Up to 2.4 Million KRW Annually

President Yoon Suk-yeol is speaking at the seventeenth Public Discussion on Livelihoods with the People, held under the theme "With the Power of Youth! A Leaping Republic of Korea!" on the 5th at IBEX Studio in Gwangmyeong-si, Gyeonggi Province.
[Image source=Yonhap News]

President Yoon Suk-yeol announced on the 5th that "the number of beneficiaries of the national scholarship, currently at 1 million, will be increased to 1.5 million." He plans to significantly expand the work-study scholarship to allow students to earn tuition and living expenses both inside and outside of school while balancing study and work, and to establish a housing scholarship that will provide up to 2.4 million KRW annually.

On the same afternoon, President Yoon presided over the 17th Public Discussion Forum themed "Korea Leaping Forward with the Power of Youth" at Ibex Studio in Gwangmyeong City, Gyeonggi Province, and stated, "We will greatly expand the national scholarship system."

In his opening remarks, President Yoon emphasized, "It is the state's responsibility to enable outstanding Korean youth to fully demonstrate their capabilities," and added, "Youth are the most important partners in national governance."

President Yoon explained that youth, being free from vested interests and cartel entanglements, can view our society with the most fair and just perspective. Since the government’s launch, youth advisors and advisory groups have been selected for 24 ministerial-level departments, and youth have been involved in all government committees, reflecting the importance placed on the youth perspective.

President Yoon added, "Initially, 2,000 youth were hired, but on Youth Day last year, we promised to increase the number of youth interns in government agencies to 5,000 and secured the budget for their wages." He elaborated, "We plan to hire 2,200 in the first half of this year and 2,800 in the second half." Furthermore, this year, youth participation will be expanded in local government committees nationwide, and the government plans to continuously increase youth involvement in national governance going forward.

Expansion of Work-Study Scholarship Beneficiaries from 120,000 to 200,000

President Yoon continued, "The nation can open its future only if youth can have hope," promising to enable youth to study, work, and nurture their dreams without worries. First, he announced a significant expansion of the 'national scholarship' system, increasing the number of beneficiaries from the current 1 million to 1.5 million out of the total 2 million university students nationwide.

Additionally, the work-study scholarship, which allows balancing work and study, will be greatly expanded, increasing the number of beneficiaries from 120,000 last year to 200,000 next year. A new housing scholarship will also be introduced, providing up to 2.4 million KRW annually.

President Yoon emphasized increasing opportunities for youth to save large sums for their future. The Youth Leap Account, which requires a 5-year subscription period, will allow support even if maintained for only 3 years, enhancing youth financial utilization. Moreover, youth who have served in the military will be able to join the Youth Leap Account based on their previous year’s soldier salary, ensuring that each young person can have a reliable savings account.

President Yoon Suk-yeol is speaking at the seventeenth Public Discussion on Livelihoods with the People, held under the theme "With the Power of Youth! A Leaping Republic of Korea" at Ibex Studio in Gwangmyeong-si, Gyeonggi Province on the 5th.
[Image source=Yonhap News]

Measures to enhance youth global competencies will also be prepared. President Yoon said, "For example, the Dutch semiconductor equipment company ASML has employees from over 60 nationalities," adding, "The future you will live in will change the very meaning of borders." He continued, "We will increase opportunities for you to gain experience worldwide and strengthen the overseas Korean safety system to ensure that our youth can learn safely and be protected abroad."

President Yoon also pledged to take good care of youth health and sports, which are part of their lives. He announced the promotion of the 'income deduction for recreational sports facilities' pledged during the last presidential election, applying cultural expense income deductions to swimming pool and fitness center usage fees. President Yoon said, "We will apply cultural expense income deductions to swimming pool and fitness facility fees so that no citizen has to give up exercising due to financial reasons," adding, "We will support not only the physical health but also the mental health of youth."

He also addressed youth mental health, stating, "Youth hesitate to seek counseling and treatment for mental health due to social stigma and cost burdens," and mentioned that support will be provided to lower the barriers to mental health care.

Prompt Introduction of Advance Childcare Payment System... Full Tax Exemption on Corporate Childbirth Support Funds

After listening to the stories of young caregivers struggling with childcare costs, President Yoon instructed the prompt introduction of the advance childcare payment system, a campaign pledge and national agenda. He also promised, "Childbirth support funds paid by companies to employees will be fully tax-exempt to reduce corporate burdens and allow more workers to benefit."

President Yoon emphasized, "The future generation must be able to dream freely, not fear failure, and take on challenges for Korea to leap forward significantly," adding, "It is the president’s responsibility to create such a country."

The event was attended by over 460 youth from various fields, including youth advisors from each ministry, the 2030 Policy Advisory Group, and members of the Youth Policy Coordination Committee. From the government, Deputy Prime Minister for Economy Choi Sang-mok, Deputy Prime Minister for Social Affairs Lee Ju-ho, and Director of the Office for Government Policy Coordination Bang Ki-seon participated. From the Presidential Office, Chief of Staff Lee Kwan-seop, Policy Chief Sung Tae-yoon, Security Chief Jang Ho-jin, Senior Secretary for Economic Affairs Park Chun-seop, and Senior Secretary for Social Affairs Jang Sang-yoon were present.