Impact Bond: Young Adult Employment SIB Project in Seoul
Stage of development: Complete
Policy sector: Employment and training
Intervention: When the issue of youth unemployment is neglected, it can lead to income reduction and a decline in work capabilities, negatively affecting individuals' lives. This also results in long-term social costs, such as decreased productivity and lower living standards. In particular, vulnerable groups facing long-term unemployment and poverty experience greater challenges in securing employment compared to the general youth population due to their disadvantaged circumstances.
Date outcomes contract signed: 2019-08
Start of service provision: 2020-11
Anticipated end of service provision: 2023-10
Total investment commitment currency: KRW
Total investment commitment: 2900000000
Total investment commitment (USD): 2033282.74
Maximum potential outcome payment: 3620000000 KRW
Maximum potential outcome payment (USD): 2538391.42
Target population: Young individuals aged 19 to 34 without employment.
Targeted number of service users or beneficiaries: 500
Targeted unit type: Individual