Pilot Project for SME-Exclusive 'Corporate Job Training Card'... Applications Open from the 2nd
[Sejong=Asia Economy Reporter Moon Chaeseok] The government has decided to strengthen cash support for companies to pay labor costs in order to increase jobs. This time, up to 5 million won will be provided to small and medium-sized enterprises (SMEs).
The Ministry of Employment and Labor announced on the 1st that it will pilot the Corporate Vocational Training Card project with the Human Resources Development Service of Korea starting from the 2nd.
For SMEs with 30 or more employees that have not received support funds in the past three years, cards will be issued for up to three years within a maximum of 5 million won. Participating companies will be recruited on an ongoing basis from the 2nd. The goal is to support 500 companies by the end of the year.
Supported companies only need to bear 10% of the cost of training courses provided by training institutions selected by the Service. Additional support up to 240% of the cost support limit can also be received if the necessity is recognized through consulting, etc.
As of the 30th of last month, 58 training institutions and 1,089 training courses have been selected respectively. This includes 64 courses in new technology fields such as software (SW), 76 courses in machinery and electrical/electronic fields, and 711 courses in management and accounting fields.
Eligibility, application procedures, and detailed support contents can be checked on the Vocational Training Portal or the Service’s website.
Song Hongseok, Director of the Vocational Competency Policy Bureau at the Ministry of Employment, said, "We expect the system to serve as a 'training participation fast track' that allows SMEs to easily undergo training," adding, "We will activate training participation so that SMEs do not fall behind in the 4th Industrial Revolution and digital era and can improve productivity."
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