Chungnam Provides 'Seol Welfare Allowance' to Small and Medium Enterprise Workers Through Welfare Corporations
[Asia Economy (Hongseong) Reporter Jeong Il-woong] The Chungnam Joint Labor Welfare Corporation will provide holiday welfare funds to employees of 86 small and medium-sized enterprises (SMEs) in the region.
The corporation announced on the 11th that it will pay 400,000 KRW per person (a total of 507.16 million KRW) in Lunar New Year welfare funds to 1,429 employees of SMEs in the province this month.
The currently operating corporations 1 through 3 were jointly established by the province and 86 SMEs from six cities and counties including Gongju, Boryeong, Asan, Seocheon, Yesan, and Taean.
These corporations raise funds through contributions of 400,000 KRW from SMEs, 200,000 KRW from provincial funds, 400,000 KRW from city and county funds, and 800,000 KRW in government subsidies to provide welfare funds to workers belonging to local SMEs.
The welfare funds are paid in local currency during Lunar New Year, Chuseok, and Labor Day, with the maximum annual welfare fund per worker being 1,000,000 KRW.
This year, the corporation's fund contributions amount to 626.4 million KRW for Corporation 1, 772.2 million KRW for Corporation 2, and 1.1736 billion KRW for Corporation 3, totaling 2.5722 billion KRW.
Additionally, the province plans to establish Corporations 4 through 6 in March, operating a total of six corporations. Through this, the number of participating companies in the welfare fund payment project is expected to expand to 188, and the number of SME workers receiving welfare funds is projected to increase to about 3,300, according to the province.
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Jo Mo-yeon, Director of the Provincial Job and Labor Policy Division, said, “We hope that the payment of welfare funds will lead to a real increase in income for SME workers,” adding, “The province will establish Corporations 4 through 6 to enable more SME workers to receive welfare benefits.”
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