Gen Z Fury Sweeping the World No Longer a Distant Fire

In Bulgaria, an Eastern European nation, furious Gen Z protesters have toppled the government. Bulgarian Prime Minister Rosen Zhelyazkov announced on January 11 that the coalition government would resign en masse, stating that "the will of the citizens must be respected." This marks the first time in Europe that a leader has stepped down due to protests led by Generation Z. The political upheaval driven by Gen Z, which has already triggered regime changes in Nepal and Madagascar, is spreading rapidly. While the anger of Gen Z, fueled by political corruption and economic inequality, is primarily spreading in economically struggling nations, this is no longer a distant fire for Korea. The reality of young generations losing hope for the future, crushed by job insecurity, housing instability, and the burden of social costs, is no different here.

The fuse that sent Bulgarian Gen Z into the streets was next year's budget proposal. When the budget revealed plans to fund increased fiscal spending through higher social security contributions and dividend taxes, Gen Z's frustration over deepening corruption and rising public debt exploded. Although the government withdrew the budget, the young generation's anger over pervasive political corruption and unresolved economic poverty unleashed powerful force, shaking Bulgaria's political and social foundations. In a media interview, an 18-year-old protester said, "The protests started because of the budget, but the fundamental cause is that we see no future for starting a business or family in Bulgaria." These words carry the deep despair common to Gen Z protesters rising up around the world.

Korean youth are also sinking quietly into a deep swamp of despair. The number of young people in their 20s and 30s who have stopped job hunting altogether—classified as "resting"—has exceeded 700,000 due to shrinking employment opportunities. According to the recently released November employment statistics, the employment rate for youth aged 15-29 fell to 44.3 percent, down 1.2 percentage points from last year and marking 19 consecutive months of decline. With soaring home prices making homeownership a distant dream and rising rents threatening to sever the housing ladder entirely, the situation grows ever bleaker. Half-hearted pension reform appears likely to end up simply shifting the burden to future generations. Yet the ruling party and government are pressing ahead with retirement age extensions that threaten youth employment while expanding fiscal spending short-sightedly, adding to future generations' burden. We can no longer turn a blind eye to young people's suffering. We must restore hope to youth through quality job creation and structural reforms in labor and pensions. The nation's future depends on the future of its youth.