[THE INVESTOR] The Seoul city government on Aug. 3 started providing allowances to young job seekers to help them maintain basic living standards.

The Seoul Metropolitan Government said it has selected a total of 3,000 applicants and will provide them with 500,000 won (US$448) per month, for up to six months.

The plan, which has been opposed by the central government, is designed to support people from ages 19 to 29, who have lived in the capital city for a year or more and work less than 30 hours a week. Enrolled students cannot apply for the program.

The city government said it has already provided the allowance to 2,831 applicants, who have signed agreements with the metropolitan government, earlier on Aug. 3.

More than 6,000 people submitted applications in July. The city government said the final list is based on their income level, period of unemployment and whether they have families to support.

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