South Korean President Lee Jae-myung has emphasized the urgent need for “extraordinary measures” to tackle a national crisis affecting the youth job market. During the “2026 Economic Growth Strategy National Briefing” held at the presidential office on January 9, 2024, Lee expressed concerns over what he termed “K-shaped growth,” a phenomenon where economic recovery benefits are unevenly distributed across different sectors.
Lee highlighted that this uneven recovery disproportionately burdens younger generations, threatening not only their employment prospects but also the nation’s long-term economic growth. He stated, “If national growth and corporate profits do not translate into job opportunities for young people, it is difficult to call that society healthy.”
Addressing the Youth Employment Challenge
The president pointed out that over 400,000 young individuals have been excluded from the labor market and face increasing demands from employers for prior work experience. Lee criticized the lack of accountability in providing entry-level opportunities for these young people, urging government officials to devise innovative strategies that move beyond existing policy frameworks.
In his remarks, Lee reiterated the government’s commitment to ensuring that all citizens benefit from economic growth. He characterized this year as the first in which his administration will fully engage in economic management. Lee indicated that revitalizing the economy would include measures aimed at bolstering the semiconductor industry, which he sees as crucial for enhancing growth momentum.
Long-term Solutions for Structural Challenges
Despite potential improvements in external economic indicators compared to the previous year, Lee warned that many citizens might not perceive any tangible benefits. He stressed that the issue of growth polarization should be viewed as a structural challenge rather than a mere cyclical occurrence. The president called for concerted efforts to ensure that the advantages of economic growth are widely shared among all demographics, particularly the youth.
As South Korea navigates these pressing economic challenges, the focus remains on creating a more inclusive labor market that provides fair opportunities for young people. The government’s initiatives in the coming year will be critical in determining whether the nation can effectively address this ongoing crisis.
