Yeoncheon County Distributes First Subsidies from 'Gyeonggi Joint Workers' Welfare Fund No. 4' on Labor Day

Yeoncheon County in Gyeonggi Province announced that it will, for the first time, distribute subsidies from the 'Gyeonggi Joint Workers' Welfare Fund (No. 4)' to beneficiary workers within the county in celebration of Labor Day on May 1.

Yeoncheon County will distribute funds from the Gyeonggi Joint Workers' Welfare Fund (No. 4) to beneficiary workers in the county for the first time in celebration of Labor Day on May 1. Photo by Yeoncheon County

This distribution is a follow-up measure to the creation of the 'Gyeonggi Joint Workers' Welfare Fund (No. 4)' under a Memorandum of Understanding (MOU) signed at the Gyeonggi Textile Support Center in Yangju City on February 27. It marks the first achievement approximately two months after the agreement.

A total of 41 companies from the northern region participated in the No. 4 fund, and in Yeoncheon County, 90 workers from 10 local companies will benefit. Each participating worker will receive 1.2 million won per year, and this amount will be paid in local currency on Labor Day as well as during the Lunar New Year and Chuseok holidays.

This support aims to increase workers' real income and improve their quality of life, while also having a positive effect on stabilizing company workforces. The provision of welfare benefits is expected to enhance worker satisfaction and corporate loyalty, encouraging long-term employment and strengthening the competitiveness of small and medium-sized enterprises.

An official from Yeoncheon County stated, "It is all the more meaningful that we are able to distribute the first subsidies on Labor Day following the signing of the MOU in February," and added, "Through the Joint Workers' Welfare Fund, we will strive to improve the quality of life for workers and establish a virtuous cycle where companies and the local economy grow together."

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