The Ministry of SMEs and Startups and the Ministry of Employment and Labor (MOEL) are joining hands to address youth jobs and labor shortages at small and midsize enterprises.
The Ministry of SMEs and Startups and the Ministry of Employment and Labor (MOEL) said on the 20th they will sign a memorandum of understanding (MOU) at Government Complex Seoul to support small and midsize enterprises, small business owners, and youth jobs.
The MOU aims to expand employment opportunities for young people and ease workforce supply burdens for small and midsize enterprises and small business owners. The two sides plan to pool efforts to build a pan-government cooperation framework to enhance job stability.
Through the agreement, they plan to cooperate to resolve job mismatches between young people and small and midsize enterprises; train talent to meet demand in new industries; strengthen on-site employment and hiring support; and improve working conditions and lay the groundwork for sustainable jobs.
They plan to identify promising small and midsize employers so young people can grow in the field and continue support to expand youth hiring and opportunities for work experience.
Under the labor market artificial intelligence (AI) talent development plan released in December, they will also support talent development by linking the SME artificial intelligence transformation (AX) support program with AI vocational training programs. They plan to strengthen support for employment and start-ups for vocational training participants and help small business owners reenter the labor market by reinforcing links between the Ministry of SMEs and Startups (MSS)'s Hope Return Package and the Ministry of Employment and Labor (MOEL)'s National Employment Support Program.
The Ministry of Employment and Labor (MOEL) will link employment support, vocational training, and overall employment services to reduce the burden on young people entering the labor market and to help small and midsize enterprises secure talent. The Ministry of SMEs and Startups will prepare support measures so quality jobs can be created centered on small and midsize enterprises and small business owners.
Minister Han Seong-sook of the Ministry of SMEs and Startups said, "Expanding job opportunities for young people, easing labor shortages at small and midsize enterprises, and supporting small business owners are tasks of our time," adding, "The MOU with the labor ministry is not a mere declaration of cooperation, but a first step toward implementing practical policies and refining systems to solve the tasks of our time."
Minister Kim Young-hoon of the Ministry of Employment and Labor (MOEL) noted, "We will concentrate the policy capabilities of the Ministry of Employment and Labor (MOEL) and the Ministry of SMEs and Startups to build a virtuous cycle that connects opportunities for young people and talent for small and midsize enterprises."