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(LEAD) Park: Youth fund collects more than 130 bln won

All News 18:05 January 28, 2016

(ATTN: Minor edits in 2nd para)

SEOUL, Jan. 28 (Yonhap) -- President Park Geun-hye said Thursday that the fund she launched last year to help create jobs for young adults has received more than 130 billion won (US$107 million) in donations.

Park said more than 100,000 people have chipped in for the "Youth Hope Fund," describing the minds of the donors as those of mothers who care about their children.

In September, Park launched the fund to help create jobs for young people as youth unemployment has become a serious social problem in Asia's fourth-largest economy.

Park became its first donor by contributing 20 million won. She also promised to give 3.2 million won, or 20 percent of her monthly pay, to the fund each month.

Park's donation has sparked a series of contributions.

Park said the pubic donation was made possible in a short period of time as people share the view that young people should not waste their time due to a lack of opportunity.

"The government will make efforts to ensure that new jobs can continue to be created," Park said in a meeting with about 100 young job seekers in central Seoul.

She also met with a dozen young people who got jobs through the Youth Hope Foundation, a public foundation funded by public donations to help young people find jobs.

The unemployment rate for those aged 15-29 reached a record 9.2 percent in 2015, up from 9 percent tallied a year earlier and the highest level since 1999, according to government data.


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