Changwon City Provides 2.5 Million KRW Support to Companies Employing Retirees from the Automotive Industry
Up to 2.5 Million KRW Monthly Per Person for Labor Cost Support Over 9 Months
[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Changwon City, Gyeongnam, provided reemployment opportunities to retirees by promoting the 'Automotive Industry Retired Workforce Reemployment Support Project,' which offers hiring subsidies of up to 2.5 million KRW per person per month for 9 months to companies employing retired automotive industry workers.
The 'Automotive Industry Retired Workforce Reemployment Support Project,' led by the Ministry of Trade, Industry and Energy, was implemented to provide reemployment opportunities for retirees and to help companies strengthen competitiveness by utilizing skilled personnel.
Originally scheduled to end in 2019 due to budget shortages, the project was extended as part of efforts to respond to employment adjustment crises in the local automotive industry. Since April last year, applications were accepted from automotive-related institutions and companies, and after review by the Korea Automotive Technology Institute, 56 individuals from 25 selected companies received a total of 892 million KRW in support.
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Yoo Jaejun, Director of Job Creation Division, stated, “We hope that automotive-related companies facing difficulties due to sluggish exports and domestic demand were able to hire excellent skilled talent through this support project and strengthen their competitiveness. Moving forward, we will actively discover and promote job support projects related to the automotive industry and make greater efforts to create jobs suited to the region.”
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