"70% Wage Support for 6 Months to SMEs Hiring Retired Technical Personnel"

Ministry of SMEs and Startups Announces Recruitment of Companies for Large and Small-Medium Technology Workforce Utilization Support Project

[Asia Economy Reporter Kim Bo-kyung] The Ministry of SMEs and Startups announced on the 15th that it will recruit small and medium-sized enterprises (SMEs) to participate in the 'Large and Small Technology Workforce Utilization Support Project' until the 2nd of next month.

The Large and Small Technology Workforce Utilization Support Project is a program that subsidizes up to 70% of labor costs when SMEs hire professional technical personnel retired from large enterprises, mid-sized companies, or strong small enterprises, helping to resolve workforce shortages.

This year, priority support will be given to companies in key national policy-related technology fields, such as the Korean New Deal, the three major new industries (BIG3), and the six sectors of localization of materials, parts, and equipment, in preparation for the post-COVID-19 era.

In addition, considering the management difficulties caused by COVID-19, the support period (from 4 months to 6 months) and the support amount (up to 8.68 million KRW per person → 13.03 million KRW) will be increased and flexibly provided compared to last year.

Park Jong-chan, Director of the Win-Win Cooperation Policy at the Ministry of SMEs and Startups, said, "We expect that the technical workforce will help enhance the technological capabilities of SMEs," adding, "Since the support period and amount have been expanded this year, it is also expected to help improve the management conditions of SMEs."

Detailed announcements can be found on the websites of the Ministry of SMEs and Startups and the Foundation for Large and Small Enterprises and Agriculture, Forestry and Fisheries Cooperation.

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