On February 4, 2026, President Lee Jae-myung convened a meeting at the Blue House with leaders of South Korea’s ten largest conglomerates to address youth employment and regional investment. The President emphasized the need for economic growth to benefit not only established generations but also young people entering society. He called for enhanced cooperation between the public and private sectors to expand job opportunities for youth. The meeting highlighted the government’s commitment to supporting corporate-led employment and education programs, as well as increased funding for such initiatives.
The policy directly impacts youth seeking employment, regional economies, and the business community. The ten conglomerates—including Samsung, SK, Hyundai Motor, LG, Lotte, POSCO, Hanwha, HD Hyundai, GS, and Hanjin—committed to investing a total of 270 trillion KRW in regional areas over five years, with 66 trillion KRW allocated for 2024 alone. This represents a 16 trillion KRW increase from the previous year. Additionally, these companies plan to hire 51,600 employees in 2024, 2,500 more than last year, with 66% of new hires being recent graduates.
Implementation of these initiatives will involve increased government support for corporate employment and education programs starting this year. The government also plans to enact special legislation, such as the RE100 Act and regional priority policies, to incentivize investment and improve local infrastructure. The focus on decentralizing economic activity includes creating new regional growth centers and addressing the overconcentration in the capital area. The government and businesses aim to break the cycle of regional disparity and foster balanced national development.
Frequently asked questions include: What are the main goals of this policy? The primary objectives are to create more job opportunities for young people and stimulate regional economies through large-scale corporate investment. How will these changes affect job seekers? Job seekers, especially new graduates, will benefit from increased hiring and enhanced training programs. What legislative measures are being considered? The government plans to introduce laws to support renewable energy and prioritize regional development, ensuring more equitable resource allocation.
The collaboration between government and major conglomerates in South Korea marks a significant step toward inclusive economic growth. The substantial increase in regional investment and the prioritization of youth employment, especially for new graduates, reflect a strategic approach to addressing both unemployment and regional disparities. The government’s commitment to supportive legislation and infrastructure improvements enhances the likelihood of successful implementation. This initiative is a noteworthy example of how public-private partnerships can drive balanced national development.