Seoul’s youth allowance policy was promoted since 2017 to help youth have enough preparation time for a stable entry into society.
Seoul’s youth allowance is available for application via Internet (youthhope.seoul.go.kr) for any unemployed youth aged 19 to 29 living in Seoul with a median household income of less than 150%. A total of 4,000 youth will be selected to receive this support based on various factors such as household income, unemployment period, number of dependents, and working plan.
The selected youth will be given 500,000 KRW monthly for job-seeking activities for 2 to 6 months. Also, they will participate in youth-specialization programs to help them carry out more systematic job-seeking activities.
The youth lease deposit system is a program that started to be implemented by Seoul City from January 2017 to support the housing expenses of youth aged 19 to 39 who find difficult to save a substantial sum of money. Seoul City has made possible for more youth to receive the benefits of the ‘Youth Lease Deposit’ program, which is being implemented in Korea for the first time to mitigate housing costs.
Since 2018, the range of applicants will be extended to college and graduate students, and loan amounts will be increased to a maximum of 25,000,000 KRW. Furthermore, housing requirements will now include not only monthly rents, but also jeonse.
In addition, Seoul City is operating a youth housing website (http://housing.seoul.kr) that provides comprehensive housing information in accordance with the needs of the youth. On this website, information on Seoul’s youth housing policies, public housing, customized direct transactions, and terms of lease is available for view, and it also allows self-diagnosis and application for lease deposit support.
The service of free rental of interview suits is available up to 10 times a year for youth job-seekers from their last year of high school until 34 years of age, provided their dwelling place is in Seoul.
Youth wanting to use this service can go to any of the formal suit lenders after making an appointment for a visit through Seoul’s job portal (job.seoul.go.kr). The rental period is 3 days and 4 nights, and applicants will need to visit the formal suit lender store only for the first rental for size measurement. From the second time on, applicants can receive the interview suit by home-delivery service after submitting an online application. Youth satisfaction survey results conducted in 2017 revealed that the level of satisfaction of users of this service was very high, reaching 97%.