The South Korean government will earmark KRW 1 trillion (USD 772.6 million) to implement extensive tailored programs to encourage more young people to join and stay in the labour market, reports Yonhap News Agency, citing the finance ministry. South Korea has seen growth in the number of young people neither in employment nor in education or training (NEET) recently, though the overall employment rate has risen to a record level. During the first nine months of this year, the number of NEET youth came to 414,000, accounting for 4.9% of the total population of the 15-29 age group, according to government data.

Under the plan, the government will launch employment services for high school students next year and fully implement the program for college students, which was introduced this year on a trial basis. For those who get a job, the government will provide onboarding programs, as well as education and consulting services, to help them better adapt themselves to their work and give 300,000 won per person to a company that runs a shorter working hour program. Those who are forced to remain unemployed while caring for their family members will receive KRW 2 million (USD 1,545) per month, and more hiring opportunities will be available for disabled young jobseekers.