Ulsan City started a program to decrease the youth jobless rate in the metropolitan city, according to city officials on Wednesday.

The local government program was promoted by the Ministry of Interior and Safety after the government announced its plan to help young people start companies and to support firms on March 15.

A total of 9.05 billion won ($8.12 million) was procured through government and local expenditure to help 14 businesses. The program will support young people’s startups through education and consulting services. There will also be a space where people can share information about employment and starting a company as well as a workshop.

In order to provide job experience the city will start a “2030 U-Dream” program that will provide opportunities for the young people and give an appropriate wage and support the expenses for the people looking for jobs.

Korea had designated Ulsan, home to the country’s shipbuilders and related industries, as an emergency response zone as the area suffers from high unemployment. Thousands of workers lost their jobs as industries struggled with declining shipbuilding orders.

By Chyung Eun-ju (ejchyung@heraldcorp.com)