IBK Industrial Bank Supports Small Businesses in Establishing 52-Hour Workweek
Providing Free Labor Consulting Services for Working Hours Reduction and Prevention of Legal Violations
[Asia Economy Reporter Park Sun-mi] IBK Industrial Bank announced on the 9th that it will provide free labor consulting to support small and medium-sized enterprises (SMEs) in stabilizing the implementation of the 52-hour workweek system.
For SMEs that are inadequately prepared for the introduction of the 52-hour workweek system, IBK consultants will be stationed on-site to provide consulting aimed at preventing legal violations by companies exceeding working hours and reducing working hours. Additionally, comprehensive labor management system consulting will be conducted to address various labor-related difficulties such as wage system, establishment of personnel regulations, and preparation for labor inspections.
SMEs with 50 to 299 employees are required to mandatorily implement the 52-hour workweek system starting next year, as the grace period ends this year. Recognizing the difficulties faced in the initial implementation due to lack of related personnel and systems, IBK aims to support these companies. IBK has been providing over 1,000 consulting services annually in various fields including management strategy, human resources organization, production management, accounting, taxation, and mergers and acquisitions (M&A) to assist SME management.
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An IBK official stated, "In the case of Company A, which received labor consulting, frequent overtime and holiday work caused the company to exceed the 52-hour workweek. However, by introducing a customized flexible working hours system and deemed working hours system suited to the company's characteristics, they succeeded in reducing working hours." The official added, "Since 2003, we have been offering free consulting to support the growth of SMEs, and reflecting the difficult economic situation due to COVID-19, we plan to proactively develop and provide various consulting services."
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