Jungjinkong Supports Long-term Employment of Key Personnel in Partner Companies with Hyundai Engineering

Business Agreement for Win-Win Tomorrow Filling Deduction on the 29th

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 29th that it signed a "win-win cooperation type Tomorrow Filling Deduction business agreement to strengthen the competitiveness of excellent small and medium-sized partner companies" with Hyundai Engineering (CEO Kim Chang-hak). The signing ceremony was conducted in a non-face-to-face manner by signing and exchanging the agreement documents.

The Tomorrow Filling Deduction is a system where companies and workers jointly accumulate deduction funds over five years, and at maturity, the entire accumulated amount is paid to the worker as a lump sum. The win-win cooperation type Tomorrow Filling Deduction is a collaborative deduction model in which large companies support the payment of Tomorrow Filling Deduction by small and medium enterprises to alleviate the economic burden on companies and realize co-growth with partner companies.

Both parties agreed to work together to encourage long-term employment of key personnel in Hyundai Engineering's partner companies and support the Tomorrow Filling Deduction to attract excellent talent. In particular, unlike the existing win-win cooperation type Tomorrow Filling Deduction that supported part of the company's burden, this agreement is characterized by supporting the entire company burden throughout the subscription period.

SBC will support subscription to the Tomorrow Filling Deduction and manage its operation, while Hyundai Engineering will handle recruitment and selection of support targets and payment of support funds. Hyundai Engineering will support the company burden per key personnel at a level of 200,000 to 240,000 KRW per month for companies subscribing to the Tomorrow Filling Deduction over the next five years.

Kim Hyung-soo, Head of the Job Division at SBC, said, "This agreement is the first case where a cooperating institution supports the entire burden of small and medium enterprises for five years," adding, "We hope this will serve as a catalyst for public institutions and large companies to fulfill their social responsibilities and actively practice ESG management, spreading this culture throughout society."

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