Kim Yong-beom, Deputy Minister of Economy and Finance, "Injecting 5.4 trillion won of national funds to support the National Employment Support System and expand Employment Insurance"

[Sejong=Asia Economy Reporter Kim Hyunjung] Kim Yongbeom, the 1st Vice Minister of the Ministry of Economy and Finance, announced on the 21st that about 5.4 trillion won of national funds will be invested to steadily support the National Employment Support System and the expansion of employment insurance.

On the same day, at the 3rd meeting of the 'Korean New Deal Advisory Group Safety Net Strengthening Subcommittee' held at HJBC in Gwanghwamun, Seoul, Vice Minister Kim said, "With the third wave of the novel coronavirus infection (COVID-19) spreading again since last November, the employment shock is expanding once more," adding, "We will strengthen efforts to firmly establish the foundation of a people-centered inclusive nation."

In response, the government plans to expand the scope of employment insurance coverage starting in July, focusing on special types of workers (teukgo) in industrial accident insurance applicable occupations, and minimize the omission of daily workers from enrollment.

Vice Minister Kim explained, "We will promote amendments to the Income Tax Act and Corporate Tax Act to enable timely identification of income information for employment insurance coverage targets, and establish a rapid information-sharing system between the National Tax Service and the Korea Workers' Compensation and Welfare Service."

Regarding industrial accident insurance for teukgo and platform workers, the system will also be restructured focusing on 'working people.' Vice Minister Kim stated, "It is necessary to explore ways to protect the rights and interests of atypical workers such as teukgo and platform workers as working people," and added, "We will discuss appropriate labor law protections for atypical workers excluded from the application of labor-related laws such as the Labor Standards Act during the legislative process in the National Assembly."

Additionally, preparations will be made for next year's pilot project of the Korean-style sickness allowance. Vice Minister Kim emphasized, "Starting from March this year, we have begun research services to design the pilot project operation plan, and we will actively collect opinions from experts and stakeholders on what system suits our circumstances."