■ Myungkyunmanri - Survival Guide for the Debt Generation in the Low-Growth Era In the low-growth era, young people in South Korea are faced with the reality that they cannot escape the shackles of lifelong debt as soon as they start their social life. The first 'debt generation' in South Korea who have given up everything including dating, marriage, and childbirth. The future of the debt generation will soon become South Korea's debt. We think about the future of the debt generation in the low-growth era and their survival methods with Professor Ha Jun-kyung of Hanyang University's Department of Economics. ■ Young people in South Korea who have given up everything and live to pay off 'debt' The average annual college tuition per person is 6.68 million won. Students take on 10 million won in debt before starting their social life to pay for their tuition. The young people in their 20s that Myungkyunmanri met also said that since they first received a student loan at the age of 19, they have never stopped working part-time. He has been paying off his living expenses and loans with the income he earned himself. "When I look at my friends who don't have student loans, the starting point itself is different. I have debt, and I think I'm starting from the negative." 20-something job seeker Korean youth spend an average of 85 million won on tuition, housing, and living expenses until they graduate from college. The difficult lives of youth who have become the 'N-po generation' continue even in their 30s. Young people in their 30s who spend more than half of their income on loan repayments are feeling the pressure of debt, having given up on relationships and dreams due to their increasing debt. "I've already given up on marriage, and my goal has become to live today and tomorrow alone, living each day." 30-something job seeker ■ Lost 20 years, 'Japan' choosing change Japan's youth debt generation emerged before Korea. Young people who have lived through the low-growth era are still living isolated lives, disconnected from society. Japanese youth have an average of 50 million won in debt. Good jobs are needed to solve the debt problem, but Japan's job environment is poor. In fact, a new employee at Japan's largest advertising company committed suicide because he could not endure the excessive workload of 100 hours a month, causing a huge stir in Japanese society. "It is said that there are 20 million irregular workers in Japan. Most irregular workers have low wages and short contract periods, making it difficult to assert their rights as workers." This has led to the beginning of a social consensus in Japan to resolve youth debt and unstable employment. Professor Ha Jun-kyung visited Japan in person, where social awareness of the youth debt generation is changing. ■ Debt generation falls into the path of credit malignancy. In order to find out how young people in Korea become debtors, Myeonggyeonmanri took out living expenses loans from commercial banks with young people in their 20s. As a result, young people without a steady income were unable to use low-interest loan products from banks. Young people who could only use high-interest loan products such as loan sharks were in a situation where it was difficult to repay the loans due to unstable jobs and were easily trapped in the swamp of bad credit. ■ Dutch youth dedicate themselves to their studies without financial burden In the Netherlands, where the college entrance rate is only half that of Korea, college students here receive various subsidies from the government, including study support funds and housing subsidies. In order to reduce the burden of transportation costs, students in the Netherlands, which provides transportation cards, can focus on their studies without major difficulties with their living expenses thanks to the income they earn from part-time jobs and government subsidies. “Receiving a subsidy every month is not enough to cover all expenses, but it is very helpful for students to have this kind of support from the government.” The interest rate for student loans in the Netherlands is 0% and the repayment period is 30 years, so there is no burden even if you take out a student loan. Through the Netherlands, which considers students as the workforce of the future and operates everything with national finances, we will explore the social role of Korean universities and solutions to youth issues. ※ This video is [명견만리] that aired on February 24, 2017. #lowgrowth #collegestudents #loans ✔KBS documentary KBS Official YouTube Channel [KBS Documentary] ????Subscribe????Like➡️ / @kbsdocumentary ????Contact: [email protected] Copyright ⓒ KBS. All rights reserved. Unauthorized reproduction, redistribution, and use (including AI training) are prohibited. ∙Unauthorized reproduction, redistribution, and use (including AI training) are prohibited. ∙The curr