Gyeonggi Province will provide low-interest loans of up to 2 billion KRW per company to ‘Family-Friendly, Good-to-Work Companies’ to promote a culture of work-family balance. To this end, Gyeonggi Province has secured 20 billion KRW for the ‘Special Management Fund for Family-Friendly Companies.’
The Family-Friendly, Good-to-Work Companies program was first introduced by Gyeonggi Province in 2010 as the first local government in the country. It selects companies based on evaluations of flexible working systems, support systems for childbirth, child-rearing and education, and support for dependents.
Gyeonggi Province will provide a fixed 2% interest subsidy on bank loan interest rates for companies certified as Family-Friendly, Good-to-Work Companies, with a maximum loan amount of 2 billion KRW per company (separate limit), and repayment terms of a 1-year grace period followed by 2 years of equal installments.
This year, Gyeonggi Province plans to newly certify 50 Family-Friendly, Good-to-Work Companies and will conduct re-certification for companies certified in 2021 whose certification period has reached 3 years.
Companies wishing to be certified as Family-Friendly, Good-to-Work Companies by Gyeonggi Province can inquire at the Gyeonggi Institute of Economy and Science Promotion.
Kim Gwang-deok, Director of the Regional Finance Division of Gyeonggi Province, stated, "The Special Management Fund for Family-Friendly Companies is a support fund aimed at small and medium-sized enterprises that strive for family-friendly management despite difficulties such as high interest rates. We hope that many companies will take an interest in adopting family-friendly systems and that good-to-work companies capable of balancing work and family will spread throughout Gyeonggi Province."
Meanwhile, on the 25th, Gyeonggi Province held the ‘8th Population Talk Talk Committee’ and announced the launch of the ‘Love I Project’ to prepare population and low birthrate policies that residents can feel.
‘Love I’ is a double entendre meaning love for ‘I’ and ‘Baby,’ and it is the brand for Gyeonggi Province’s low birthrate policy. The Special Management Fund for Family-Friendly Companies is one of the initiatives under the ‘Love I Project’ designed to support the creation of a family-friendly organizational culture.
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