South Korea unveiled part of its 2027 budget plan in Sejong on Friday to provide 43.3 trillion won in tailored support for young people at different life stages. The proposal, announced by the Ministry of Planning and Budget at the 2027 Youth Budget Unboxing event, is a 53.5 percent increase from this year’s 28.2 trillion won. It includes birth, childcare, savings, education, housing and job support, with an illustrative package that could total up to 195.82 million won by age 34. The ministry said the plan reflects a shift in viewing young people as a key investment priority.
Nurses care for newborn babies at a hospital in Seoul, July 29. Yonhap
SEJONG — Korea on Friday unveiled part of its 2027 budget plan aimed at supporting young people, pledging to allocate 43.3 trillion won ($31.4 billion) for tailored fiscal support at different stages of their lives.
The budget proposal, unveiled by the Ministry of Planning and Budget during the "2027 Youth Budget Unboxing" event at the presidential office earlier in the day, marks a 53.5 percent increase from the 28.2 trillion won earmarked for related projects this year.
"Recently, young people's entry into the job market has been delayed due to changes in the industrial structure. They are also facing other challenges, including growing difficulties in building assets," the budget ministry said in a release.
