The government has decided to include youth experts in a key committee that reviews and approves corporate restructuring and entry into new industries. This initiative aims to actively incorporate the flexible and on-the-ground perspectives of young people into business restructuring policies amid rapidly changing industrial landscapes, including artificial intelligence, eco-friendliness, and digital transformation.
On August 9, the Ministry of Trade, Industry and Energy announced that it is publicly recruiting three youth members to participate in the sixth 'Business Restructuring Plan Review Committee,' which supports proactive business restructuring for companies.
This recruitment is part of an effort to expand opportunities for youth participation in national affairs under the 'Youth Basic Act' and to reflect the fresh perspectives of young experts in the review process during a period of significant industrial transformation.
Since its establishment in 2016, the Business Restructuring Plan Review Committee has operated under the Corporate Vitality Act, bringing together experts from various fields, including industry, law, accounting, finance, and employment, to review and decide on the approval of business restructuring applications and support measures. The committee is co-chaired by the Vice Minister of Trade and a private sector chairperson, consisting of a total of 20 members, including five ex-officio members, four members recommended by the National Assembly, and eleven private sector members.
The newly created youth members will account for three of the eleven private sector members. Eligible candidates are youth experts aged between 19 and 34. Applications will be accepted from August 11 to 21 through the government’s integrated platform, 'Youth Talent DB.'
While general private sector members are required to have at least ten years of substantial experience, the criteria for youth members are significantly lower. Candidates can apply with just one year of experience in a relevant field or three years of experience in corporate restructuring and business reorganization.
Once appointed, youth members will directly review the growth potential of companies applying for business restructuring approval, the feasibility of entering new industries, and the appropriateness of technology and investment.
A Ministry official stated, "As companies undergo rapid and dynamic changes in their restructuring patterns due to global supply chain adjustments and industrial transformations, we expect many capable young individuals to show interest and actively support the incorporation of their flexible and innovative perspectives into policy."
* This article has been translated by AI.
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