SEOUL, President Yoon Suk Yeol made a series of pledges targeting the younger population Tuesday, including an increase in state scholarships and tax exemptions on companies’ birth incentives for employees.
Yoon unveiled the plans during a government-public debate held in Gwangmyeong, just outside of Seoul, which focused on issues affecting the everyday lives of young people.
“Only when the young people can have hope, can we open a future for our country,” he said during the debate at Ivex Studio, which brought together more than 460 youths and government officials. “I will make sure young people can study without worry, nurture their dreams while working and prepare for the future.”
Yoon said the government will expand the state scholarship program to offer scholarships to 1.5 million college students, up from the current 1 million, out of a total 2 million students.
He also said the government will increase the number of students receiving scholarships to study and work at the same time from 120,000 to
200,000 starting next year.
Meanwhile, a new scholarship program will be established to assist students with housing by offering up to 2.4 million won (US$1,800) a year.
As part of efforts to address the country’s low birth rate, Yoon said the government will provide more generous support for young parents, including single parents, and promptly launch a program that makes advance payments of child support.
He further outlined plans to introduce tax exemptions on allowances given by companies to employees giving birth, to lower the burden on companies and increase the number of beneficiaries.
Yoon additionally noted plans to help young people save money by easing the terms for a bank account offering higher than open market interest rates, from a minimum five years to a minimum three years.
In other measures aimed at helping the youth, Yoon said he will expand international exchange programs, introduce tax deductions on the use of sports facilities, and facilitate counseling and treatment for mental heal
th issues.
Source: Yonhap News Agency