Ulsan City Selected for Additional Recruitment in 'Industry-Specific Win-Win Agreement Support Project'
After Automobiles, Securing 1.24 Billion Won in National Funds for the Petrochemical Industry
Ulsan City announced on the 15th that the "Petrochemical Industry" has been additionally selected in the Ministry of Employment and Labor's public contest for the "Industry-Specific Win-Win Agreement Expansion Support Project."
Following the selection of the automobile industry in June, the city has secured an additional 1.24 billion KRW in national funding through this new selection.
This newly selected project aims to promote win-win cooperation between primary and subcontractors in Ulsan's petrochemical industry and to resolve the dual structure of the labor market.
With this selection, the city will support small and medium-sized partner companies (with fewer than 500 employees) in the petrochemical sector located in Ulsan, as well as newly hired employees.
With a project budget of 300 million KRW (240 million KRW from national funds and 60 million KRW from the city), the city will implement the "Job Retention Support Fund" and the "Senior Continued Employment Incentive" programs.
The "Job Retention Support Fund" program provides 1 million KRW to new employees at 3, 6, and 12 months after joining, up to a maximum of 3 million KRW per year.
The "Senior Continued Employment Incentive" program provides up to 7.2 million KRW per year to employers who retain employees aged 60 or older or rehire them within six months.
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An official from Ulsan City stated, "On the 9th, we announced a joint declaration by labor, management, and government to overcome the crisis in the petrochemical industry," and added, "With the city's matching funds following the selection of this national project, we will make every effort to close the wage gap between primary and subcontractors in the petrochemical industry and enhance the competitiveness of local partner companies."
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