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S. Korea Boosts Youth Employment
World Economy

S. Korea Boosts Youth Employment

The South Korean government will offer tax incentives and encourage companies to adopt a wage peak system to help young people find jobs, the country’s top economic policymaker said Monday, Yonhap reported. Speaking to students and faculty members at the Korea University of Technology and Education in Cheonan, 92 kilometers south of Seoul, Choi Kyung-hwan said the government is committed to finding new jobs in both the public and private sectors. The finance minister’s pledge comes as the jobless rate among people between 15 and 29 reached 10.2% last month, a much higher number than the 3.9% unemployment figure for the population as a whole.

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