Seoul City Launches Comprehensive Support Measures for Youth, Unemployed, and Entrepreneurs from the Beginning of the Year

Shared Offices and Consulting for Middle-Aged Entrepreneurs
330,000 Jobs in the First Half... Focus on "Resting Youth"
Support for Ages 18 to 39 Through SME Funding

Seoul City has been rolling out comprehensive support measures for youth, the unemployed, and entrepreneurs since the beginning of the year. The aim is to boost economic activities such as jobs across various sectors and break the prolonged social and economic stagnation triggered by the martial law situation.

According to Seoul City on the 17th, following the announcement the previous day to create 410,000 jobs with a budget of 2.7 trillion won, the city unveiled a shared office support plan for middle-aged entrepreneurs facing financial difficulties.

Rather than simply providing office space, the plan includes comprehensive consulting services such as legal and tax support, bookkeeping, and investment advisory, enabling phased business funding support. The goal is to revitalize the startup ecosystem by supporting experienced middle-aged entrepreneurs, with support available for up to three years.

Policies to create a total of 410,000 jobs this year will also be promptly implemented. Seoul City’s plan is to generate 330,000 jobs, which is 80% of the total, in the first half of the year. Job creation will be carried out meticulously by dividing it according to social groups. Vulnerable groups such as the unemployed and daily workers will be provided with 'companion jobs' like subway safety personnel, while resting youth will be encouraged to enter the labor market through employment academies and job camps.

Seoul City is focusing on the 420,000 people who, last year, recorded the highest-ever level of 'youth resting' population. Given the severe job mismatch, the city is concentrating on policy support to help youth enter the labor market by enhancing their vocational skills and experience. To this end, five additional Youth Employment Academies, institutions for nurturing young talent, will be established this year, bringing the total to 25, with plans to produce young IT and software developers.

For youth employment aged 18 to 39, Seoul City has decided to collaborate with small and medium-sized enterprises. By selecting Seoul-type small but strong enterprises, companies hiring youth will receive up to 1.5 million won per person, with a maximum of 4.5 million won per company for up to three hires as workplace improvement funds. Ju Yong-tae, Director of Seoul City’s Economic Office, stated, "We will continue to establish a robust employment safety net to help middle-aged and older adults and small business owners recover."