Launch of 'Nowon Senior Happiness Corporation'

Located in the basement level 1 office of KB Financial Nowon Plaza at Nowon Station intersection... Secured initial operating funds of 800 million KRW to actively develop jobs from the start... Plans to establish a mask manufacturing factory in the second half of this year to generate revenue and provide sustainable jobs... Hired over 40 employees in 2021, aiming for continuous expansion through private sector business growth.

[Asia Economy Reporter Jong-il Park] Nowon-gu (District Mayor Oh Seung-rok) announced that it will establish the ‘Nowon Senior Happiness Corporation’ to create continuous and stable jobs for the elderly, and will begin full-scale operations starting July 1.

The Nowon Senior Happiness Corporation, headquartered on the basement first floor of KB Financial Nowon Plaza at Nowon Station intersection, was fully funded by the district with a capital of 295 million KRW required for its establishment.

To this end, the district established a basic plan in 2020 and enacted an ordinance for the establishment of the corporation. In April of this year, the registration for establishment was completed, finishing all preparations for its launch. During this process, it was selected for the Ministry of Health and Welfare’s ‘Senior-Friendly Enterprise Contest Project,’ securing an additional subsidy of 500 million KRW and 300 million KRW in donations through the Nowon Education Welfare Foundation. This laid the foundation for actively promoting projects from the early stages of the corporation’s launch.

The Senior Happiness Corporation plans to discover projects that ▲can generate profits and continuously create jobs ▲can be supported or linked with the district office, public institutions, and private sectors ▲do not require special skills and allow elderly participation through basic training, thereby providing quality jobs to local seniors.

In its first year, the corporation will operate with three office staff including the CEO and 40 seniors working on-site.

On-site workers will be publicly recruited from residents aged between 60 and 70 within the district. Seniors hired by the corporation can earn approximately 1 million KRW per month based on 4 hours per day, 5 days a week.

Starting in July, immediately after the launch, projects linked to public jobs such as cleaning and facility management of public facilities, women’s safety services, and childcare taxis will commence.

Following this, the corporation will establish production facilities for its specialized project, the manufacturing of health-use 3D (KF) masks, and plans to begin production and sales by December this year. The health mask manufacturing business is a self-sustaining profit project and a core business for the successful establishment of the corporation in the future.

Next year, the corporation expects to expand its business by operating cafes and simultaneously broaden its private sector business areas while discovering new profit projects to create continuous and stable jobs for seniors.

The corporation will provide seniors with a qualitatively stable working environment as well as a quantitative increase in jobs. For seniors who are often vulnerable to blind spots in the Labor Standards Act, it guarantees minimum wage and working hours, and after stabilizing the corporation, plans to gradually pay a living wage exceeding the statutory minimum wage.

The launch ceremony of the Nowon Senior Happiness Corporation is scheduled to be held at 3 p.m. on the 18th at the KB Financial Nowon Plaza, where the headquarters office is located.

Oh Seung-rok, Mayor of Nowon-gu, said, “Along with the aging rate, the poverty rate among the elderly in our society is serious, and there are limits to policies focused on one-off welfare benefits,” adding, “We will strongly support a happy new start for seniors with the belief that sustainable jobs are the best welfare.”