Strong Chungnam Pays 400,000 Won to SME Workers Ahead of Lunar New Year

4,142 Workers at 245 Companies to Receive 1.66 Billion Won in Local Currency Support

Exterior view of Chungcheongnam-do Provincial Office

In the lead-up to the Lunar New Year holiday, Chungcheongnam-do Province is accelerating its on-site, experience-based labor welfare policy by providing holiday welfare benefits of 400,000 won per person to workers at small and medium-sized enterprises in the province.

According to Chungcheongnam-do Province and the Chungnam Joint Labor Welfare Corporation on February 11, this year’s Lunar New Year holiday welfare benefits will be provided to 4,142 workers at 245 small and medium-sized enterprises in the province that have contributed to the joint labor welfare fund.

The total payment amounts to 1.66 billion won, and 400,000 won per worker will be paid out in the form of local gift certificates (local currency) by February 13.

This support is being promoted ahead of the Lunar New Year holiday to help maintain the real income of small and medium-sized enterprise workers and to reduce the financial burden on their households.

The Joint Labor Welfare Corporation was established and is being operated to strengthen the welfare benefits of small and medium-sized enterprise workers and to ease labor market polarization between large corporations and small and medium-sized enterprises.

The joint labor welfare fund is created with contributions from small and medium-sized enterprises, along with provincial and city/county funds and central government subsidies.

Using this fund, welfare benefits paid to workers include 400,000 won for the Lunar New Year holiday, 200,000 won for Labor Day, and 400,000 won for the Chuseok holiday, with a maximum of 1 million won provided per year.

To enhance the effectiveness of the system, the province plans to establish four additional Joint Labor Welfare Corporations this year (the 9th to 12th) and significantly expand the support coverage to 339 companies and 6,155 workers.

An official from the province said, "The payment of Lunar New Year holiday welfare benefits is a policy that has a direct effect on supplementing the income of small and medium-sized enterprise workers," adding, "We will continue to expand the corporation and the fund to narrow welfare gaps among workers and to help vitalize the local economy."

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