SEOUL (Xinhua) – South Korea’s government planned to provide monthly allowances to young job seekers for up to six months in a bid to support young jobless people, the labour ministry said yesterday.
Those aged 18-34, who graduated from or dropped out of secondary schools, universities, or graduate schools less than two years ago but had no job, can be given 500,000 won (USD440) every month for up to six months, according to the Ministry of Employment and Labour.
Eligible applicants for the subsidy are those who belong to household earning less than 120 per cent of the country’s median income, or less than 5.54 million won (USD 4,900) a month in terms of a four-person household.
The ministry planned to offer the allowances to about 80,000 young jobless people this year, with a budget of 158.2 billion won (USD 139.7 million) allocated.
The subsidy will be provided through a so-called clean card, which prevents the recipients from using it on purchase of luxury goods, gambling or other improper activities.
The recipients can be provided one-on-one consulting services on finding a job, but they will be subject to reporting on their job-seeking activities every month.