Local Public Enterprises to Increase Investment by 20 Trillion Won and Significantly Expand Hiring

Ministry of the Interior and Safety to Reflect Hiring Bonus Points in Local Public Institution Management Evaluations
Expansion of Local Public Enterprise Hiring Market to Revitalize Regional Economy
Acceleration of 20 Trillion Won Investment Plan through Local Public Enterprises This Year

The government is taking steps to support the expansion of hiring at local public institutions. This measure aims to revitalize the stagnant regional economy by awarding additional points related to this during future management evaluations of local public institutions. Earlier, the government also announced a plan to expand investments in local public enterprises totaling 20 trillion won this year.

According to the Ministry of the Interior and Safety on the 13th, the government is considering awarding extra points for hiring during management evaluations to encourage local public institutions to increase recruitment. A government official explained, "With the expansion of new hires at public institutions anticipated this year, their active recruitment can serve as a catalyst not only for revitalizing the regional economy but also for expanding the job market."

On the 17th, job seekers are attending a job preparation lecture at the 2024 Public Institution Recruitment Information Fair held at the aT Center in Yangjae, Seoul, which runs until the 18th. Photo by Heo Younghan younghan@

Previously, the government announced an expansion of new hires at public institutions this year at the '2024 Public Institution Recruitment Information Fair' held last month. The target is more than 24,000 hires, a 10% increase compared to the previous year, with incentives in management evaluations based on hiring performance as well as promises of budget and personnel support. In line with this, the Ministry of the Interior and Safety plans to strengthen benefits such as awarding commendations to institutions with excellent hiring performance in addition to extra points in management evaluations. The hiring plans of local public institutions will be checked quarterly to encourage compliance.

The scale of new hires planned this year by local governments for local public institutions is 8,765 people, which is a 5% (491 people) increase compared to last year's hiring plan (8,274 people). In particular, local investment and foundation institutions will hire 5,585 people, a 53.6% increase from the original plan of 3,636 people, and local public enterprises will hire 1,377 people, an 8.9% increase from the planned 1,264 youth experience interns.

By institution, Seoul Transportation Corporation plans to recruit 344 people, making it the largest in scale. Following are Seoul Medical Center (247 people), Gyeonggi-do Medical Center (195 people), Sejong Urban Transportation Corporation (146 people), and Asan City Facilities Management Corporation (48 people), all preparing for recruitment.

The government also intends to accelerate measures to revitalize the regional economy through local public enterprises. It has announced an investment plan totaling 20 trillion won for local public enterprises this year, and measures are underway to increase their limits on bond issuance and capital investment. This considers that most of the construction projects carried out by local public enterprises are handled by local small and medium-sized construction companies, focusing on expanding investment projects over 1 billion won to provide work opportunities for them.

There is also a plan to allow local public enterprises that meet certain conditions to expand their investment limits in other corporations from 10% of capital to up to 50%, enabling large-scale investment projects while maintaining financial soundness. Additionally, the government plans to introduce a regulation in the law that exempts the feasibility review of investments when local public enterprises invest in other corporations if a preliminary feasibility study or similar review has already been conducted or if the investment is small, allowing timely investments.

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