Seoul: South Korea's finance ministry has announced its commitment to tackling the employment challenges faced by vulnerable groups, as the country continues to grapple with job market difficulties, particularly for young job seekers.

According to Yonhap News Agency, the Ministry of Finance and Economy laid out its strategy during an interagency task force meeting focused on job creation. This discussion follows the release of official data indicating that South Korea saw an increase of 184,000 jobs in August compared to the previous year, marking the largest surge in five months.

The finance ministry highlighted that while there has been significant job growth, reaching the high-100,000 range for the first time since the outbreak of the Middle East war, challenges persist for vulnerable demographics and sectors. These include young individuals, as well as those employed in manufacturing, construction, agriculture, and fisheries.

In August, the employment rate for individuals aged 15 to 29 stood at 44.1 percent, a decline of 1 percentage point from the previous year, marking the 28th consecutive month of decline. The ministry expressed concerns that ongoing tensions in the Middle East could negatively impact future job creation, emphasizing the importance of implementing measures to sustain the positive momentum in the job market.

To address these concerns, the finance ministry plans to meticulously prepare job creation initiatives as part of the 2027 budget proposal. This includes efforts to increase public-sector employment through enhanced interagency collaboration.