Ministry of Employment Designates 'Iljari Eutteum Companies'... Benefits Include Preferential Interest Rates and Tax Audit Deferrals

The Ministry of Employment and Labor announced on the 2nd that it is accepting recommendations for the '2022 Korea Job Excellence Companies' until the end of this month.

Job Excellence Companies is a system designed to encourage companies that have led the creation of quality jobs and achieved results, selecting 100 companies annually since 2018.

Selected companies receive a certificate of recognition in the name of the President and are provided with over 200 administrative and financial supports such as preferential credit ratings and interest rates, tax audit deferrals, and exemptions from regular labor inspections for 1 to 3 years.

The Ministry of Employment and Labor discovers about 600 candidate companies through recommendations from the public and local labor offices. Company recommendations are accepted until the end of this month.

Subsequently, a selection review committee examines whether the companies violate labor-related laws, the Fair Trade Act, whether their credit rating is below grade 8, turnover rates, and other factors.

For companies that pass, on-site inspections, consultations with labor and management organizations, and reputation checks are conducted, and a final selection committee consisting of labor representatives, management, and experts selects the top 100 companies.

Those who wish to participate in public recommendations can submit a recommendation form on 'Gukmin Saenggakhap' (National Idea Box). Companies that have recently been included in public disclosure lists due to reasons such as wage arrears or low employment of persons with disabilities are excluded from selection.