Gyeonggi-do Rolls Up Sleeves to Support Semiconductor Sector Job Shortage... Provides 1.85 Billion KRW Including National and Local Funds

Gyeonggi Province is set to actively promote the 'Regional Plus Job Project' to improve the recruitment difficulties and activate employment for small and medium-sized enterprises (SMEs) and mid-sized companies in the semiconductor industry.

The Regional Plus Job Project is a customized support program linked with the Ministry of Employment and Labor’s job projects, tailored to the characteristics of regional industries such as local employment conditions and workforce demand. It was introduced for the first time this year.

Gyeonggi Province previously secured 1.3 billion KRW in national funds through a public contest by the Ministry of Employment and Labor for this project. Adding 550 million KRW of provincial funds, the total project budget of 1.85 billion KRW will be used to address recruitment difficulties faced by semiconductor-related companies within the province.

The main initiatives include two projects: the 'Gyeonggi Province Semiconductor Company Plus Job Leap Incentive,' which promotes employment in semiconductor-related companies, and the 'Gyeonggi Province Semiconductor Company Plus Youth Tomorrow Savings Deduction,' aimed at encouraging long-term employment and financial savings for employees in semiconductor companies.

The Semiconductor Company Plus Job Leap Incentive supports semiconductor-related companies that newly hire unemployed individuals as regular employees by providing 1 million KRW per person per month, up to a maximum of 12 million KRW per company. This expands the eligibility and support amount of the existing Ministry of Employment and Labor’s Youth Job Leap Incentive, easing the labor cost burden for semiconductor-related companies.

The Semiconductor Company Plus Youth Tomorrow Savings Deduction project supports part of the corporate contribution to alleviate the increased burden on companies due to the rise in corporate contributions in the existing Ministry of Employment and Labor’s Youth Tomorrow Savings Deduction program. Gyeonggi Province will cover 25% of the corporate contribution, amounting to 1 million KRW, for new enrollees.

Semiconductor-related companies in the province wishing to participate in the project can apply through the Gyeonggi Employers Federation website.

This project is led by Gyeonggi Province and the Gyeonggi Employment and Labor Office, with the Gyeonggi Regional Human Resources Development Committee (Gyeonggi Employers Federation) participating as the executing agency.

An Chi-gwon, Director of the Job and Economic Policy Division of Gyeonggi Province, stated, "Through the Regional Plus Job Project, we will reduce the labor cost burden for semiconductor-related companies in the province and encourage long-term employment of workers, which will greatly help overcome the job crisis. We will continue to discover job projects suited to Gyeonggi Province’s industrial characteristics through local job status surveys and other efforts."

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