Stronger Safety Nets

[Anchor Lead]

The government says that in addition to more urgent, temporary measures, it will carry out some structural reforms to boost employment and strengthen unemployment safety nets.

[Pkg]

One out of four soldiers return to society without having decided on his career. For such servicemen, the government will link them up with nearby small- and medium-sized businesses so that they can get job training and also assist with their employment after they're discharged. Also, heavy machinery operation and other special jobs they had carried out at the military bases would be certified and used as licenses. High school graduates who choose to work first and study later will be eligible for assistance. For instance, an individual who gets a job at a small business right after high school will receive four million won in government subsidy. Also, the unemployment benefit period will be increased to maximum 240 days thereby strengthening the unemployment safety net for young people. The government believes the youth employment issue can be resolved not only with short-term measures, but also with such structural solutions.

[Soundbite] Han Yo-sep(orea Development Institute) : "In the long term, the efforts to boost economic dynamism and ease the dual structure of the labor market are key."

These measures will be funded through an additional budget amounting to four trillion won. The government plans to use last year's leftover budget as much as possible without borrowing money so as not to hurt fiscal soundness.

[Soundbite] Kim Dong-yeon(Deputy Prime Minister for Economic Affairs) : "I can do anything if the youth job problem can be solved."

The government plans to present the extra budget plan to the National Assembly next month. But the opposition blasted the government's extra budget plan as a stop-gap measure that requires a lot of taxpayer money without any fundamental solutions, clouding the outlook for the budget's parliamentary approval.