The government plans to inject four trillion won in supplementary budget this year to support youth employment programs.

Second Vice Finance Minister Kim Yong-jin held a financial advisory meeting in Seoul Tuesday and discussed this year's extra budget bill with various private sector experts. 

He said that one in four young people are feeling the bite, as the real jobless rate soared to 22-point-seven percent last year. He added that the unemployment crisis is becoming more and more serious due to the restructuring of the shipbuilding and auto industries.

Kim said there is concern that the country and its young people will face an employment crisis verging on the level of disaster.