Park Hong-keun, Minister of the Ministry of Planning and Budget, held a 'Future Response and Youth Policy Meeting' on September 3 at the Seoul Square conference room, attended by 28 participants, including current and former student council leaders and young public officials.
The meeting was organized to listen to the opinions of the youth in the rapidly changing economic and social environment, including the transition to artificial intelligence (AI) and the decline in the school-age population, and to discuss the direction of government policy.
Among the attendees were representatives from current and former student council unions, university student council presidents, and representatives from science and engineering students. The event featured a presentation by a young public official on key government policy issues, followed by discussions and feedback from student representatives.
Key agenda items included: 1) strategies for promoting a future response fund, 2) major points for reforming education grants, and 3) comprehensive investment strategies for youth at different growth stages. Participants exchanged views on structural issues facing the youth, such as barriers to entering the job market and difficulties in asset formation, as well as broader education and financial policies.
In his opening remarks, Minister Park emphasized that addressing the structural problems faced by young people is a national responsibility and expressed his intention to gather candid opinions from youth representatives.
During the policy explanation that followed, Minister Park outlined plans to use the revenue surplus generated from the semiconductor boom to establish a future response fund instead of allocating it to current consumption expenditures. This fund aims to focus investments in four strategic areas: youth, growth drivers, local development, and education and talent, while also serving as a financial stabilization mechanism to respond to revenue volatility.
Regarding the reform of education grants, he explained that the current structure linked to domestic tax revenues would be revised to address its limitations. The resources secured through this reform are planned to be invested in early childhood, higher education, and lifelong learning through the education and talent accounts of the future response fund.
Additionally, he defined youth support policies as essential investments for the nation's future, aiming to restore the growth ladder and reduce disparities at the starting line through comprehensive investments tailored to different stages of youth development.
* This article has been translated by AI.
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