S. Korea to invest 1 tln won to nurture young workers

SEOUL, Sept. 11 (Yonhap) -- South Korea said Thursday that it will invest 1 trillion won (US$900 million) over the next five years in nurturing 100,000 talented workers to spearhead the advancement of the nation's next-generation industries.

A total of 47 training-projects in six sectors have been selected to produce young workers that can meet the needs in each sector, with 130 billion won to be injected towards the goal next year alone, the Finance Ministry said.

Workers will be educated in "green" industries relating to such issues as alternative energy and climate change. Information telecommunications, high-tech industries, cultural content and the medical sector were also among the designated areas where workers will be trained, the ministry said.

The allotted funding will be provided in the form of subsidies for colleges, research institutes and other existing facilities so that job seekers have access
to the necessary training at cheaper prices, the ministry explained.

The envisioned investment plan comes as South Korea's younger generations are
having trouble landing jobs amid the sluggish economy. South Korea's jobless rate
stood at 3.1 percent in August, unchanged from a year earlier. Youth
unemployment, however, jumped 0.4 percentage point to 7.1 percent.

Job creation is one of the key campaign pledges of President Lee Myung-bak, who
took office in February. Lee promised to rejuvenate the nation's slowing economy
by generating jobs and creating a more business-friendly environment to attract
greater investment.

kokobj@yna.co.kr

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