Korea Rail Network Authority Supports Long-term Employment of Young Talent at Small and Medium Partner Companies
Yoon Yeo-cheol, Director of Planning at the Korea Rail Network Authority (left), is taking a commemorative photo with Woo Young-hwan, Director of the Job Division at the Small and Medium Business Corporation (right), after signing a business agreement on the 21st. Photo by Korea Rail Network Authority
View original image[Asia Economy (Daejeon) Reporter Jeong Il-woong] The Korea Rail Network Authority is supporting the long-term employment of young talents working at small and medium-sized railway partner companies.
On the 21st, the Rail Network Authority announced that it signed a business agreement with the Small and Medium Business Corporation to support the "Core Talent Performance Reward Fund for Small and Medium Enterprises (Youth Employee Tomorrow Filling Deduction)."
The fund encourages long-term employment of young workers in small and medium-sized enterprises by having employers, employees, and the government jointly accumulate contributions over five years, which are paid out as performance rewards upon maturity.
Over five years, employees contribute 7.2 million KRW (120,000 KRW per month), companies contribute 12 million KRW (200,000 KRW per month), and the government contributes 10.8 million KRW (paid in seven installments over three years). Upon maturity, the accumulated fund is paid to the employee.
The Rail Network Authority plans to select 12 young core talents who have worked for more than six months at small and medium railway partner companies and support 100,000 KRW per month of the 200,000 KRW monthly contribution borne by the companies for the next five years.
Hot Picks Today
"Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Don't Throw Away Coffee Grounds" Transformed into 'High-Grade Fuel' in Just 90 Seconds [Reading Science]
- [Exclusive] K-Growth CEO Appointment Process Nears Completion... KDB Candidate Excluded
- The Unexpected Story of an American Man Who Won the Lottery 18 Times in 29 Years: "My Real Luck Is My Wife"
- "Even With a 90 Million Won Salary and Bonuses, It Doesn’t Feel Like Much"... A Latecomer Rookie Who Beat 70 to 1 Odds [Scientists Are Disappearing] ③
Kim Han-young, Director of the Rail Network Authority, said, "We hope this agreement will help stabilize business operations and strengthen internal capabilities of small railway partner companies struggling due to COVID-19," adding, "The Rail Network Authority will continue to fulfill its social role and responsibility for mutual growth and co-prosperity in various fields."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
