Gyeongnam Province, Nationwide First to Provide 500,000 KRW Monthly for 'New Employment Incentive for Middle-aged'

Up to 2.5 Million KRW Support Over 5 Months

[Asia Economy Yeongnam Reporting Headquarters Reporter Kang Woo-kwon] Gyeongsangnam-do announced on the 18th that it will begin full-scale payment this month of the 'New Middle-aged New Hire Employment Incentive,' the first of its kind nationwide, to address early retirement of the baby boom generation and overcome the COVID-19 crisis.

The New Middle-aged New Hire Employment Incentive is provided through the project called 'New Middle-aged Tomorrow Connection 50+,' part of Gyeongnam Province's 7th public election pledge to increase job opportunities for the new middle-aged group.

The core of the program is to support labor costs for companies that newly hire middle-aged workers, providing 500,000 KRW per person monthly for up to 5 months, totaling a maximum of 2.5 million KRW. From March 4 to April 30 this year, a public recruitment of interested companies resulted in 81 companies and 94 applicants, and after a selection review, 54 companies and 70 applicants were finally chosen.

Selected companies can submit applications for employment incentives and wage payment proof documents for newly hired middle-aged workers since March this year to the Gyeongnam Life Second Act Support Center and receive the incentive within 15 days.

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