Lee Jae-myung, the Democratic Party of Korea presidential candidate, announced on the 6th that he would introduce a 'virtual asset spot ETF' as a youth pledge and reduce transaction fees. He also decided to supplement and improve the current 'Youth Tomorrow Saving Fund' and introduce the 'Youth Future Savings.' In particular, he noted that military service records would be mandatorily reflected in the salary steps of all public institutions, and the government would cover the first national pension insurance premiums for the youth.
The candidate announced the youth pledge on Facebook, saying, “I will create a country where youth have opportunities and hope.”
The candidate promised to help the youth form stable assets through virtual asset investment, including the introduction of a tentative 'Youth Future Savings,' establishment of a virtual asset spot ETF and integrated monitoring system, reduction of transaction fees, and implementation of a youth customized financial counseling program.
Regarding youth employment, he said he would expand job-seeking activity support funds, provide a once-in-a-lifetime job seeker allowance for voluntarily resigning youth, offer national support for 'employment-linked vocational training programs,' and promote the mandatory reflection of military service records in the salary steps of all public institutions.
Additionally, he vowed to strengthen support for youth housing with measures such as expanding public sales and public rental tailored for youth, widening the support targets for monthly rent for non-home owning youth households and expanding the rent tax credit, supplying win-win type public dormitories, revising the special law on rental fraud, enhancing victim relief, and strengthening penalties for offenders. He continued, “I will strengthen the emergency response system to prevent crimes against single female households.”
In particular, the government will support the first national pension premiums for the youth and expand military service credits to cover the entire duration of service. Regarding student loans, he announced plans to ease income requirements for income-contingent repayment student loans and expand the exemption of interest.
The candidate said, “To overcome the various problems faced by youth, the government must take the lead,” adding, “We will strengthen support systems so that isolated youth, youth preparing for independence, and youth caring for family members can live as proud members of our society.”