Busan City Selects Three Outstanding Youth Employment Companies

Certificate Presentation by Mayor Park Hyungjun at City Hall, 2 PM on the 15th... 'Taekwang Fujikin, Jokwang Yoturn, Binex'

Busan Metropolitan City and the Busan Economic Promotion Agency have selected three local companies that have made significant efforts to provide quality jobs for young people and promote youth employment as the "2024 Excellent Youth Employment Companies." Mayor Park Hyungjoon will personally present the certificates of recognition.

Busan City Hall exterior. (Photo by Busan City Hall)

The certificate awarding ceremony will be held at 2 p.m. on the 15th in the International Protocol Room at City Hall.

This year, for the first time, the city introduced the Youth Employment Excellence Certification System for companies that contributed to youth job creation among the 100 "Cheongkkeul" (companies attractive to youth) firms. In August, 31 candidate companies were recruited through a public contest. After a three-stage evaluation process, including document review, on-site assessment, and interview evaluation, Taekwang Fujikin, Jokwang Yachturn, and Binex were finally selected.

Taekwang Fujikin, established in 2007 in Gangseo-gu, is a semiconductor company. As a global specialist in gas piping materials and components, it is experiencing unlimited growth based on innovative technology. Over the past three years, its youth employment rate reached 92.7%. The company received high marks for its various employee welfare and childcare support systems, such as providing 1.5 times unused annual leave allowance, operating a shared workplace daycare center, and supporting children's educational expenses.

Jokwang Yachturn, founded in 1988 in Gangseo-gu, is a paint manufacturing company. After launching its marine and heavy industry paint business, it became the first in the world to possess solvent-free epoxy paint technology and currently holds the number one market share in the domestic ship paint sector. It has also achieved the highest P grade in the Process Safety Management (PSM) rating for two consecutive times. The company was highly evaluated for its employee welfare and work-life balance support, including an A+ credit rating, a new employee adaptation program, support for housing and lease funds, and a flexible working hours system.

Binex, established in 1985 in Saha-gu, is a pharmaceutical company. With the goal of creating a healthy future through innovation, it is a reliable healthcare partner, ranging from synthetic pharmaceuticals to next-generation biopharmaceuticals. The company is equipped with cGMP facilities that meet the U.S. FDA standards for pharmaceutical manufacturing and quality management. It was selected as an excellent company for work environment and welfare systems, including a clean work environment, break rooms, residential, medical, and health support, reduced working hours, and family care leave support.

The selected Excellent Youth Employment Companies will receive tangible benefits such as a certificate and a certification plaque, 40 million KRW in workplace enhancement support funds, exemption from acquisition tax on newly acquired business real estate, and a deferral of local tax audits.

The city has established the legal basis for local tax reductions for Excellent Youth Employment Companies for the first time in the nation through an ordinance amendment, and the validity period for the tax reduction is three years from the date of certification.

Mayor Park Hyungjoon stated, "I am grateful for your continuous business activities for over 30 years and your efforts in creating and maintaining youth jobs, even in difficult economic conditions such as high inflation and high interest rates. Through the Youth Employment Excellence Certification System, which is being implemented for the first time this year, we will do our best to foster corporate pride, revitalize the employment market, and make Busan a 'business-friendly city.'"