Park Hong-geun, the Minister of the Ministry of Planning and Budget, visited a youth startup on October 18 and stated, "We will support the strengthening of a structure that allows the private sector to create sustainable jobs."
During his visit to the medical robotics startup MediInTech in Jongno, Seoul, Park held a meeting to discuss the expansion of private sector jobs.
The ministry introduced youth job support projects reflected in next year's government budget and discussed ways to expand quality job opportunities with attendees.
Before the meeting, Park listened to MediInTech's updates on corporate growth and youth hiring and observed a product demonstration. Founded in 2020, MediInTech has rapidly grown and has become a preferred employer for young talent, having been selected for the Ministry of SMEs and Startups' Unicorn Bridge program this year.
During the subsequent meeting, key points regarding youth job initiatives in the 2027 budget were explained, and the necessary support for companies to expand quality jobs was discussed. Park specifically examined whether companies are able to secure the talent they need during their growth process and what obstacles they face in expanding hiring.
Suggestions were made regarding support for initial labor and training costs associated with hiring, as well as considerations for hiring risks due to labor rigidity. Additionally, there were calls for long-term retention incentives and career development support to help talented individuals settle in small and medium-sized enterprises, as well as strengthening integrated management support for career pathways.
Park emphasized, "To create an environment where citizens, including the youth facing worsening employment conditions, can work freely, it is essential that good jobs are sufficiently created in the private sector. We will support the strengthening of a structure that allows the private sector to voluntarily and sustainably create jobs while addressing the challenges companies face in hiring and nurturing young talent."
* This article has been translated by AI.
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