Industry ministry seeks three youth members for restructuring committee

The industry ministry said Monday it will recruit three young members for the sixth Business Restructuring Plan Deliberation Committee.

The ministry said the recruitment is being conducted under the Youth Basic Act to broaden opportunities for young people to participate in government affairs. An industry ministry official said, "Corporate restructuring patterns are changing rapidly and dynamically amid the reorganization of global supply chains and a broad industrial transformation. We hope capable young people will show interest and apply actively so flexible and innovative youth experts' perspectives can be reflected in policy."

Applications will be accepted from Aug. 10 through Aug. 21 via the Youth Talent Database. Candidates must be aged 19 to 34 and have youth-talent qualifications or at least three years of experience in corporate restructuring or business restructuring. Youth-talent qualifications include relevant work experience and awards. Those appointed will assess companies' growth prospects, proposed moves into new industries, and the suitability of technology and investment plans.

The 20-member committee comprises five ex officio government members, four experts recommended by the National Assembly and 11 private members appointed by the industry minister, including the three youth members. Private-member eligibility requirements for current or former professors, lawyers, accountants and corporate and financial specialists range from 10 years in relevant fields to 10 years in business or finance plus five years in restructuring.

The committee has operated through five terms since 2016 under the Special Act on the Promotion of Corporate Vitality. It reviews approvals, changes and cancellations of business restructuring plans, establishes or revises implementation guidelines, and considers other matters referred by its chair.