Incheon TP Invests 5.3 Billion Won Including Growth Incentives to Strengthen Competitiveness of Root Companies

[Asia Economy Reporter Park Hyesook] Incheon Technopark (Incheon TP) announced on the 6th that it will support companies to enhance the competitiveness of the root industry in collaboration with Incheon City.

The root industry, which includes manufacturing process technologies such as casting, mold, plastic working, welding, surface treatment, and heat treatment, forms the foundation of manufacturing quality competitiveness. However, it has been stigmatized as a 3D sector and suffers from chronic labor shortages.

Accordingly, Incheon TP will invest 5.346 billion KRW this year in the "Proactive Employment Stability Package Support Project" to foster root companies in the Incheon area.

First, growth incentives will be provided to root companies with high growth potential. When hiring new workers, support of 2 million KRW per month per person will be given for up to three employees for three months, and an additional 1 million KRW will be paid if they complete five months.

Costs for prototype production, commercialization, improvement of working conditions, and solutions to resolve difficulties in production sites will be supported up to 30 million KRW per company.

Additionally, to resolve the chronic job mismatch in the root industry, recruitment and employment support services called "Root Industry Specialized Customized Employment" will be provided, along with the "Root Company New Employee Career Formation Incentive," which pays 3.6 million KRW over two years to new employees.

Meanwhile, Incheon City, which has been conducting the "Proactive Employment Stability Package Support Project" for five years since being selected by the Ministry of Employment and Labor in 2020, received the highest excellent grade (A) in the final project evaluation for 2021 among nine metropolitan cities and provinces nationwide.

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