President Park Geun-hye has decided to donate 20 million won ($17,000) to a fund meant to help young people find jobs, Prime Minister Hwang Kyo-ahn said Wednesday.

Park will also give 20 percent of her monthly wage each month to the fund, Hwang said. It means Park's monthly contribution could reach about 3.2 million won, given that her annual salary stood at 192 million won last year.

Hwang also said he and other Cabinet ministers as well as heads of public organizations will also donate their money to the fund.

The move came a day after Park proposed to establish a fund that helps create jobs for young people as part of noblesse oblige.

"The government will make its best efforts to give a big hope to young people through the fund," Hwang told reporters.

He also plans to induce voluntary contributions from public and private sectors.

The fund will be used to help young people find jobs and create jobs, Hwang said.

Young people have been struggling to find jobs as local companies remain reluctant to hire new workers amid a prolonged economic slump.

The unemployment rate for people between the ages of 15 and 29 stood at 8 percent in August, down from 9.4 percent a month earlier and the lowest level since October last year. The slight improvement came as students can find part-time jobs during the summer break.

President Park Geun-hye has decided to donate 20 million won ($17,000) to a fund meant to help young people find jobs, Prime Minister Hwang Kyo-ahn said Wednesday.

Park will also give 20 percent of her monthly wage each month to the fund, Hwang said. It means Park's monthly contribution could reach about 3.2 million won, given that her annual salary stood at 192 million won last year.

Hwang also said he and other Cabinet ministers as well as heads of public organizations will also donate their money to the fund.

The move came a day after Park proposed to establish a fund that helps create jobs for young people as part of noblesse oblige.

"The government will make its best efforts to give a big hope to young people through the fund," Hwang told reporters.

He also plans to induce voluntary contributions from public and private sectors.

The fund will be used to help young people find jobs and create jobs, Hwang said.

Young people have been struggling to find jobs as local companies remain reluctant to hire new workers amid a prolonged economic slump.

The unemployment rate for people between the ages of 15 and 29 stood at 8 percent in August, down from 9.4 percent a month earlier and the lowest level since October last year. The slight improvement came as students can find part-time jobs during the summer break. (Yonhap)