This Year, 26.5 Billion KRW from National and Provincial Funds Invested to Promote 104 Industrial Complexes in the Province
[Asia Economy Reporter Ra Young-cheol] Gyeonggi Province announced on the 26th that "this year, a total of 26.5 billion KRW in national and provincial funds will be invested to support the youth transportation expenses project for 104 industrial complexes in the province, and so far, about 6.5 billion KRW, which is 24.6% of the total budget, has been spent."
This project is a policy jointly promoted by Gyeonggi Province and other metropolitan local governments along with the Korea Industrial Complex Corporation, aimed at resolving labor shortages in small and medium-sized enterprises (SMEs) within industrial complexes, promoting the influx of young people, and addressing job mismatches.
Youth aged 15 to 24 working in SMEs within industrial complexes with poor transportation conditions are provided with a monthly transportation voucher worth 50,000 KRW, which can be used for buses, subways, intercity buses, express buses, taxis, major electric vehicle charging, and more.
The cumulative number of supported companies in the first quarter was 20,830, and the cumulative number of supported individuals was 135,428. On average per month, 6,945 companies and 45,142 individuals received transportation benefits.
The area with the most support was Ansan City, which includes Banwol National Industrial Complex and Banwol Plating General Industrial Complex, with a cumulative supported individual count of 27,858.
Following that, Siheung City, which includes Siwha National Industrial Complex and Siwha Multi Techno Valley, recorded 20,903 supported individuals, and Hwaseong City, which includes Dongtan General Industrial Complex and Baran General Industrial Complex, recorded 19,038 supported individuals.
The province plans to continue support until the budget is exhausted, and young workers who wish to apply can do so through the online "Youth Transportation Expense Support System."
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