"Implement Work Innovations like Reduced Working Hours and Receive 'Incentives'"

Asia Economy DB=Photo by Moon Honam munonam@

[Asia Economy Reporter Kim Bo-kyung] The Ministry of Employment and Labor and the Korea Labor-Management Development Foundation will begin accepting applications for participation in the 'Work Innovation Incentive Program' for small and medium-sized enterprises starting on the 26th.

The Work Innovation Incentive Program is a system that selects outstanding companies and provides benefits when companies voluntarily establish and implement work innovation plans such as reducing working hours.

The Work Innovation Incentive Program follows procedures including ▲recruitment and selection of participating companies ▲implementation of work innovation ▲evaluation of work innovation implementation results ▲awarding of work innovation excellence plaques and provision of incentives.

Participating companies implement their work innovation plans over a three-month period (May to July), and after quantitative and qualitative evaluations of the implementation results and employee satisfaction surveys, they are selected as 'Work Innovation Excellent Companies.'

Work Innovation Excellent Companies are classified into SS, S, and A grades based on their scores. Selected companies receive various benefits for three years, including exemption from regular labor inspections, up to 20 million KRW in support for work innovation infrastructure, additional points for recommendation as military service designated companies, additional points for family-friendly certification, and preferential treatment when participating in government-supported projects.

In the first year of the Work Innovation Incentive Program last year, 122 companies applied, and 77 participated in work innovation. Ultimately, 45 Work Innovation Excellent Companies were selected. Among the excellent companies, 11 were SS grade, 17 were S grade, and 17 were A grade.

Companies wishing to participate in the Work Innovation Incentive Program can download the work innovation implementation plan and application form from the Korea Labor-Management Development Foundation website, complete them, and submit them in person or by mail to the Foundation's Workplace Improvement Team.

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