Up to 60 Million KRW for Companies Reducing Weekly Work Hours to 52... "Improving Long Working Hours"

Ministry of Employment Announces 'Support Project for Establishing Reduced Working Hours' on the 25th
For Companies with 5 to 299 Employees... Up to 1.2 Million KRW per Person for Maximum 50 People

[Image source=Yonhap News]

[Asia Economy Reporter Kim Bo-kyung] The Ministry of Employment and Labor announced on the 25th the 'Support for Establishing Reduced Working Hours' project, which provides incentives to outstanding companies that have made efforts to comply with the 52-hour workweek system, and will accept applications throughout June.

This project targets companies with 50 to 299 employees, to which the 52-hour workweek system has been applied since January this year, and companies with 5 to 49 employees, to which the system will be applied from July next year, and plans to operate for three years until 2022.

To apply for the project, companies must have implemented measures to reduce working hours at least six months before the announcement date (May 25, 2020) starting from March 2018, and must have reduced the working hours of employees who previously worked more than 52 hours per week to within 52 hours as of the announcement date.

The reduction measures can be implemented according to the workplace situation, such as improving working hours management, introducing flexible working systems, and spreading a culture of leaving work on time. Considering the difficulties faced by small and medium-sized enterprises (SMEs) with labor shortages, it is possible even without new hires.

Selected companies can receive up to KRW 60 million in total, with KRW 1.2 million (KRW 200,000 × 6 months) per employee whose working hours have been reduced from 'exceeding' to 'within' 52 hours per week, for up to 50 employees.

Kim Deok-ho, Director of the Labor Inspection Policy Division at the Ministry of Employment and Labor, said, "We hope that many SMEs striving to improve the long working hours culture will participate, receive government support, and improve the culture of long working hours."

Companies wishing to participate in the project can download the application form from the Ministry of Employment and Labor's reduced working hours website (http://www.moel.go.kr/52-hour.do), fill it out, and submit it by visiting the local employment and labor office or via mail, fax, or email.

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