Jung Eun-kyung: 'Youth income security is necessary... aiming for pilot program next year'

South Korea's Minister of Health and Welfare, Jung Eun-kyung, has indicated a push towards establishing a pilot program aimed at ensuring income security for young people. The ministry is targeting next year for the launch of a demonstration project, signaling a potential shift in youth welfare policies.

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There is a need for income security... We are looking for ways to provide income security against these structural risks.

Jung stated that while nothing is finalized, there is a recognized need for income support structures to address the systemic risks faced by the youth. The ministry is actively researching and developing potential policy solutions. These could range from universal basic income schemes to programs that provide income support for socially valuable work. The aim is to test and validate these approaches through policy experiments before considering broader implementation.

Discussions are expected to intensify in the latter half of the year, with a focus on identifying viable policy options. The ministry emphasized that the introduction of a participation income for young people has not yet been decided, and the current phase involves extensive research and consultation. This exploratory approach seeks to ensure that any implemented policies are both effective and broadly acceptable.

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Various options are being presented, such as providing universal allowances or supporting income for participation in socially valuable work, and we are reviewing which policies are acceptable.

In related matters, Jung also commented on the basic pension system, though details were not fully elaborated in the provided text. The focus remains on developing a comprehensive strategy to bolster the financial stability of South Korea's younger generation.

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We are aiming to discuss it intensively in the second half of the year and conduct a pilot project next year.