Busan, Ulsan and South Gyeongsang Launch Joint Project to Support Young Workers

Busan, Ulsan and South Gyeongsang have joined forces to help young workers build their lives in the region, rather than treating employment and daily-life support as separate city-level issues.

The Busan-Ulsan-South Gyeongsang Regional Link Project held its launch ceremony on Aug. 8 at BEXCO in Busan. The employment and labor ministry’s competition-based program brings together young talent, companies and the wider living area formed by the three regions’ interconnected shipbuilding, automobile and machinery-parts industries.

Because many workers cross city and provincial boundaries to commute, the project will provide support on a wider regional basis. It will run for four years in three areas: talent, settlement and the future. This year’s budget totals 125 billion won, made up of 100 billion won in national funding and 25 billion won from local governments.

The project will support 100 young people who move from the capital region and elsewhere to jobs at small and medium-sized shipbuilding, automobile and machinery-parts companies in the three regions. Through a savings program, they can accumulate up to 40 million won over 24 months, while settlement costs such as rent can receive support of up to 20 million won.

Another 300 young workers already living and working in the region can accumulate up to 20 million won over 24 months through the “2,000 Achievement Savings” program. For 1,350 workers commuting among Busan, Ulsan and South Gyeongsang, the project will provide 300,000 won per month for six months, or up to 1.8 million won, in commuting support. They will also receive 500,000 won in local currency based on their workplace.

Companies will receive support as well. Firms in the three regions that cooperate on joint research, production or supply chains can receive 15 million won for each new hire, up to 45 million won per company. The project will also train talent for artificial intelligence transformation and provide education for both employees and existing workers.

The three local governments said the project would connect strong companies with skilled people and create more competitive employment policies. A job fair featuring 70 companies from the regions’ key industries was also held at the launch event.