Small and Medium Enterprises and Small Business Owners to Receive More Incentives in Korea Railroad Bidding

[Image source=Yonhap News]

[Asia Economy Reporter Moon Jiwon] Incentives for small and medium-sized enterprises (SMEs) in Korea Railroad Corporation (KORAIL)'s railway supplies bidding evaluation will be further expanded.

On the 16th, Korea Railroad announced, "We have prepared support measures so that excellent SMEs and small business owners can receive practical benefits in railway supplies bidding."

Korea Railroad decided to significantly expand incentives for SMEs, small business owners, and government policy-certified companies by improving the credibility evaluation items in the 'Detailed Criteria for Goods Qualification Review' applied to railway supplies bidding evaluations.

This system improvement will be implemented starting next month.

First, a new scoring system for youth employment-creating companies was established, and the scope of additional points for new hires by small business owners was expanded.

Additionally, extra points will be newly applied to Ministry of Employment and Labor-designated Best Job Companies, workplaces with early reduction of working hours, Fair Trade Commission model subcontracting companies, and Ministry of Health and Welfare senior-friendly companies, reflecting the degree of government policy compliance in the bidding evaluation.

A Korea Railroad official said, "We will continuously improve the contract system to provide practical help to SMEs and small business owners who contribute to youth employment and job creation, as well as employment stability."

This content was produced with the assistance of AI translation services.