'A new possibility for solving youth employment problems'
Program to expand to public institutions, foreign firms next year
Kim Yong-beom, Cheong Wa Dae's chief of staff for policy, said Thursday that interest in the K-New Deal Academy — a program launched under a supplementary budget — has exceeded expectations, and that the government intends to extend the opportunity to more young people. The remarks come as Cheong Wa Dae has moved to take a more active stance on youth policy, with attention to the youth vote growing in the wake of the June 3 local elections.
In a Facebook post Thursday, Kim said that when applications were solicited from companies, 107 firms applied to run 149 academies. After a screening process, 72 academies operated by 53 companies were ultimately selected. He said approximately 8,200 young people are expected to participate.
"This project began as a way to address the growing number of young people who had simply stopped looking for work," Kim said. "The fact that more companies joined than we anticipated showed us a new possibility for solving youth employment problems."
On the strong response to the program, Kim said the enthusiasm was not simply the result of a new training program being created. "The employment environment facing young people has changed dramatically, and companies share the same sense of urgency — that they need new ways to develop talent," he said.
Kim pointed to the shifting job market driven by advanced industries. "AI is raising productivity and creating new opportunities. But for young people taking their first steps into society, it also raises the bar for entry," he said. "Companies want people they can put to work immediately, but young people find it harder to gain experience. There is a recurring paradox where experience is demanded but no starting line is provided."
"The K-New Deal Academy starts from exactly that point," Kim said. "For young people, it is a starting line that provides a first experience. For companies, it is a platform to directly discover and develop future talent. It is also an experiment in building a new employment ecosystem where young people and companies grow together."
Kim also highlighted the program's company-led design and operation. "Major companies are participating directly, including SK Corp, KT Corp, LG Corp, Lotte and Hanwha Ocean," he said. SK Hynix will run a semiconductor talent development program called "Youth Hy-Po," while SK AX will train talent in AI and cloud. KT Corp will develop field-ready professionals in AI transformation and ICT, and NC AI plans to train talent in game and AI content production at regional hubs in Busan, Daejeon and Gwangju, he added.
On the fact that a significant number of the academies are being held outside the Greater Seoul area, Kim said: "If talent can grow in their regions rather than leaving them, and if companies can develop the people they need locally, that will be a precious seed for balanced national development."
Kim also signaled plans to expand the program. "This year, because it was run as a supplementary budget project, the design and implementation period was short and we were not able to scale it up as much as we would have liked," he said. "Next year, we will broaden participation beyond large conglomerates to include public institutions and foreign-invested companies, building an ecosystem that brings together far more companies and far more young people."
In closing, Kim said: "Experience is the greatest competitive asset for young people, and people are the most important investment for companies. I hope the potential of our talented and passionate youth will translate into corporate growth, and that corporate investment will in turn create new opportunities for young people — a virtuous cycle that becomes a new source of competitiveness for South Korea."
moone@heraldcorp.com
