Gov`t to launch IT classes for jobless college grads

In a bid to address serious unemployment problems among university graduates, the government and the ruling party decided to implement Information Technology (IT) classes for 20,000 jobless university graduates starting next month.

The decision was made in a cabinet meeting at the National Assembly Friday morning. Among participants in the meeting were Namkung Suk, chairman of the Millennium Democratic Party (MDP) policy planning committee; Kang Un-Tae, chairman of the MDP`s No. 2 coordinating committee; Jin Nyum, premier and minister of finance and economy; and Kim Ho-Jin, minister of labor affairs.

As part of unemployment measures for youth, the government and the ruling party resolved to boost the number of young interns and job retraining participants by 10,000 each to 29,000 and 60,000, respectively, beginning April 1. The number eligible for the government’s employment support system, under which the administration provides six-month subsidies of 500,000 won per person to enterprises that hire long-time jobless youths, will be increased from the original 10,000 to 30,000.

As an unemployment measure for those in their 40s or 50s, the government will extend financial support amounting to one-third or two-thirds of necessary expenses to enterprises that implement job retraining programs for those facing layoffs. As the program will be financed using unemployment funds, the government plans to revise an enforcement ordinance under the employment insurance law. The government will also extend the application deadline for the foundation credit guarantee system, under which the Korea Credit Guarantee Fund extends payment guarantees of up to 100 million won to those willing to establish a company.

Yonhap