Incheon TP Supports SMEs in Extending Employment for Retirement-Age Workers

[Asia Economy Reporter Park Hyesook] Incheon Technopark (Incheon TP) announced on the 31st that it will provide subsidies to small and medium-sized enterprises (SMEs) that rehire or newly hire retired employees.

This is part of the "Employment Extension Support Project for Retired Employees in SMEs," aimed at stabilizing the lives of retired workers and alleviating labor shortages in SMEs, and companies are being recruited to participate.

The support targets small manufacturing companies in the Incheon area. If they rehire or newly hire workers aged 60 to 64 for more than two years, the employer will receive an employment extension subsidy of 300,000 KRW per month for up to one year.

Support can be provided for up to 10 employees, within 10% of the company's employment insurance subscribers. Companies with fewer than 10 employees can receive support for up to 2 employees only.

Applications for support can be submitted through the company support information website BizOK.

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