Employment Measures for People in Their 40s Filled with 'Cash Support'... "Expansion of Incentives"

Job Committee to Announce 'Second Half Job Policy Directions' on 9th
Support for 20,000+ Middle-Aged Workers in Employment Success Package... Employer Incentives Provided
3 Million Won Job Promotion Allowance for Low-Income Job Seekers in Their 40s

On the morning of the 9th, Kim Yong-gi, Vice Chairman of the Job Committee, is speaking at the 14th Job Committee meeting held at the Seoul Press Center. [Image source=Yonhap News]

[Asia Economy Reporter Kim Bo-kyung] The employment measures for people in their 40s, which the government is set to announce this month, are expected to be filled with various cash support measures such as expanding eligibility for employment promotion incentives and providing job-seeking promotion allowances.

The Presidential Committee on Jobs held its 14th meeting on the morning of the 9th at the Korea Press Center and announced that it had proposed and approved the direction for job policies in the second half of the Moon Jae-in administration.

According to the Jobs Committee, the 'Measures to Revitalize Employment for People in Their 40s' to be announced by the government this month include ▲ resolving job mismatches ▲ expanding employment and labor incentives ▲ and plans to activate startups.

First, it was decided to support 20,000 middle-aged and older job seekers this year through the Employment Success Package II (Chwiseongpae II), allowing job seekers in their 40s to utilize the Employment Success Package program. Employers who hire middle-aged and older workers who have completed Chwiseongpae II will receive employment promotion incentives.

The plan also includes providing a job-seeking promotion allowance of 500,000 KRW per month for up to six months to low-income job seekers in their 40s and small business owners who have closed their businesses, linked with the National Employment Support System. The government plans to implement the National Employment Support System starting in July, but the law underpinning the system is currently pending in the National Assembly.

Additionally, the government will expand the target of the Preliminary Startup Package, which supports startup commercialization funds, to include all age groups, including middle-aged people in their 40s and above.

The 'Startup Company Support Service Voucher,' a support program exclusively for startup companies led by youth under 39, will also be expanded to include startup companies in their 40s. The government plans to support 1,800 companies through a pilot project this year.

Measures will also be prepared to assist retired professionals in their 40s with activities in the startup ecosystem, such as technology startups, professional mentoring, and employment as venture company executives or staff.

The age limit for the 'New Middle-aged Specialized Course' at Polytech University will be lowered to include people in their 40s to increase specialized training opportunities for this age group. At the same time, a group counseling program for people in their 40s will be newly established at employment centers to strengthen support such as career diagnosis and job transition information.

Furthermore, the number of dedicated consultants for middle-aged workers at the Middle-aged Job Hope Center will be expanded to 310, an increase of 48 from last year, and a customized life career design service for manufacturing production and service workers will be newly introduced.

A government official stated, "We will treat people in their 40s as a separate policy area and prepare a comprehensive tailored plan for people in their 40s within this month," adding, "We plan to implement feasible areas as soon as possible."

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