Deputy Minister Ki Jae: "We Will Focus Support on Labor Transition in Energy and Automobile Industries"

Meeting on the Launch of the 'Proactive Corporate and Labor Transition Support Team' on the 7th

[Asia Economy Reporter Jang Sehee] Lee Okwon, the 1st Vice Minister of the Ministry of Economy and Finance, stated on the 7th, "We will focus on supporting labor transition in the energy and automobile industries."

At the launch meeting of the 'Proactive Corporate and Labor Transition Support Group' held at the Government Seoul Office on the same day, Vice Minister Lee said, "The support group must play its role to ensure that companies and workers in other sectors also prepare proactively."

During the meeting, they reviewed the business structure restructuring projects included in next year's budget, such as the establishment of a 500 billion KRW loan fund including the Small and Medium Business Corporation's business transition loan fund, expansion of research and development (R&D) funds, and consulting for business restructuring and transition.

They also discussed budgets for long-term paid leave for 10,000 workers to support job transition and reemployment of 150,000 workers in industrial transition sectors such as internal combustion vehicles and coal power, as well as specialized training budgets for 25,000 workers responding to industrial structure changes.

Vice Minister Lee said, "We will minimize departmental barriers and operate the support group with the highest priority on integrated cross-departmental promotion," adding, "We will facilitate smooth transitions through connections between real economy departments, finance and real economy departments, and companies and workers, and establish a comprehensive process."

He continued, "We will operate the system from the demand side, focusing on companies and workers, rather than the supply-side perspective centered on departments," and added, "We will regularly conduct surveys on the actual conditions of companies and workers to comprehensively understand demand and continuously improve the system based on the results."

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