- Bumseok Kim, First Vice Minister of Economy and Finance, convened an inter-ministerial task force meeting on employment.
- Employment trends in industries and regions closely tied to changes in the trade environment will be thoroughly examined, with swift support provided as necessary.
- Six major youth employment initiatives, including the Youth Employment All-Care Platform, have been designated for focused management and higher youth engagement.
- Direct employment reached a record high of 1.108 million in Q1, with efforts underway to exceed the first-half target of 1.2 million.
- Through the “Employment Troubles Hotline,” institutional improvements have been made, such as enhancing the special extended work permit system for the semiconductor sector.
On April 16, 2025, First Vice Minister of Economy and Finance Beomseok Kim chaired a employment joint task force meeting with relevant ministries to assess employment impacts stemming from trade-related risks and come up with strategies for addressing those impacts.
In addition, the meeting covered the status of such initiatives as youth employment and direct employment, as well as the first quarter performance in hotlines for addressing employment troubles suffered by private companies.
Observing that the global trade conditions are increasingly volatile, due to America's itemized and reciprocal tariffs and China's retaliatory measures, Vice Minister Kim declared, “Since concerns are mounting that job creation will be sluggish, especially in export-driven industries, including the manufacturing sector, we will be more thoroughly monitoring the employment trends by industry and region with the employment task force leading the efforts.” He also emphasized, “In addition to communicating closely with the regions and industries vulnerable the changes in trade conditions, we will be ready to take timely policy measures available, including designation of employment crisis zones, in an effort to minimize possible losses.”
As a next agenda, the meeting addressed the “Status and Future Plans of Major Youth Employment Initiatives.” The MOEL plans on designating and managing six major youth employment initiatives, including Youth Employment All-Care Platform, designed for each stage of college education, job search, and employment. From April through May, the initiative will involve strong collaboration with other ministries, local governments, and employment centers to improve participation and support for youth groups highly likely to have difficulty getting jobs, including the unemployed and socially isolated.
Vice Minister Kim remarked on the current youth employment landscape: “Young people, our future generation, are finding it difficult to enter the labor market as hiring in core industries such as manufacturing and construction slows and domestic demand recovery remains sluggish.” He urged relevant agencies to “expedite the implementation of related projects and pay special attention to raising awareness and participation among the youth.”
Meanwhile, direct employment projects under central government agencies reached 1.108 million hires in the first quarter—an all-time high (the annual target of 1.239 million in 2025). The government will ensure robust execution to exceed the first-half target of 1.2 million and support employment and income stability for groups which are likely to suffer job losses.
Vice Minister Kim said that in February, the government launched a hotline for resolving employment-related troubles raised by businesses. Through this channel, measures such as easing requirements for semiconductor R&D overtime approvals and lowering the minimum work hour requirement for youth job incentives (from 30 to 28 hours/week) have already been implemented.
Kim added, “In order to ensure that the Employment Troubles Hotline becomes a one-stop problem-solving platform, we will continue collecting suggestions from private companies and, in May, hold a regular meeting with six major economic organizations to discuss additional institutional improvements.” He emphasized a whole-of-government approach to “creating a favorable environment for companies to actively generate jobs.”