Following the release of a youth policy to ease housing costs and support asset building for young people, the Lee Jae-myung administration is seeking additional policy support measures. As negative public opinion among the younger generation toward the Lee Jae-myung administration's governance persists, the move is seen as an effort to strengthen related policies.
According to relevant ministries on the 6th, the government, led by the Ministry of Finance and Economy, is working to identify tasks for youth asset building. The government plans to build an integrated platform for youth asset building and continue to support asset accumulation among young people.
On the 26th of last month, the government held the Youth Policy Coordination Committee and reviewed and finalized the "second basic plan for youth policy." The basic plan includes measures to ease housing costs for more than 430,000 young people over the next five years and to establish the Youth Future Savings account to help build assets.
The Youth Future Savings account is a policy product under which, if a subscriber deposits up to 500,000 won per month, they can receive up to 22 million won in a lump sum at maturity. The government contribution is 6% for the general type and 12% for the preferential type, depending on the savings amount. Those who newly join a small or midsize company and meet conditions such as three years of continuous service receive support at the preferential rate (12%).
The government decided to keep identifying policies for asset building among young people to support the younger generation in securing a foundation for independence. In political circles, the move is analyzed as an effort to win over young voters.
Negative public opinion among young people toward the Lee Jae-myung administration's governance is higher than in other generations. Since September last year, the government has designated "Youth Week" and has been focusing on the younger generation. The basic plan for youth policy released last month is also aimed at targeting young people.
In a survey conducted by polling firm Ace Research at the request of Newsis from the 28th to the 30th of last month of 1,002 men and women nationwide aged 18 and older, 56.0% of respondents in their 20s evaluated the Lee Jae-myung administration's performance negatively. This was the highest among all age groups. Next was those in their 30s at 55.1%. Among those in their 70s, who tend to be conservative, the negative evaluation was 38.9%.