‘SOS Fund’ Worth 610 Million KRW for Young Adults Preparing for Independence
Customized Support in Partnership with Samsung, CJ, and Others
Seoul Invests 18.1 Billion KRW in ‘Master Plan’ for Independence
The Seoul Metropolitan Government is partnering with companies to provide emergency funds and employment support for young adults preparing for independence after leaving child care facilities. Seoul Mayor Oh Se-hoon stated, "The ultimate goal of welfare is independence," adding, "Policies that empower individuals to stand on their own are true welfare and the role our society must fulfill."
On the morning of the 14th, Mayor Oh signed a 'Public-Private Cooperation Agreement to Accompany the Dreams and First Steps of Young Adults Preparing for Independence' with representatives from eight companies and organizations, including Samsung Electronics and Hanwha General Insurance, at Seoul City Hall, announcing these initiatives.
Young adults preparing for independence refer to those who leave child care facilities or foster homes upon reaching the age of 18 (or 24 if extended protection applies) and begin living independently. Currently, 1,455 such young adults reside in Seoul, with about 150 entering society each year.
Through this agreement, Seoul has secured corporate sponsorships to provide emergency support for these young adults. Initially, four companies and organizations (Korea Zinc, The Salvation Army, Korea Food for the Hungry International, Hanwha General Insurance) will establish an 'SOS Fund' totaling 610 million KRW, with plans to expand corporate participation in the future.
Additionally, to support their economic independence, Samsung Electronics, CJ Nanum Foundation, and SK Happiness FNC Foundation will provide employment assistance. Employment programs tailored for young adults preparing for independence, such as software developer training courses, will be operated, linking participants to employment opportunities within large corporate affiliates. Legal counseling will also be offered to those facing civil or labor-related legal difficulties.
Seoul will also actively implement its own support measures. Support for young adults preparing for independence is part of Seoul's 'Master Plan for Supporting the Independence of Young Adults Preparing for Independence.' In 2021, Seoul established the first comprehensive plan among local governments to realize practical independence for these young adults. The core of the plan is to expand support beyond the limited five-year 'preparation for independence' period to cover from childhood through 'post-independence support,' and to shift from uniform support to 'customized' assistance tailored to each individual's circumstances and needs. This year, a total of 18.1 billion KRW will be invested to focus on 23 projects under four major tasks: ▲Finding and nurturing dreams ▲Building independence capabilities ▲Ensuring a strong first start ▲Engaging with the local community.
On this day, Mayor Oh also emphasized that the goal of welfare is independence. While acknowledging that "public efforts alone are still insufficient," he stated, "Policies that empower individuals to stand on their own are true welfare and the role our society must fulfill." Mayor Oh expressed his gratitude to the participating organizations, saying, "I once again thank each institution for extending a helping hand," and pledged, "We will continue to accompany the dreams of young adults preparing for independence so they can confidently embark on a new start as independent members of society."
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