Uijeongbu City Signs Business Agreement to Establish "Gyeonggi Joint Labor Welfare Fund No. 3"

On the 24th, Uijeongbu City in Gyeonggi Province signed a business agreement at Uijeongbu Munhwa Station Ieum for the establishment of the "Gyeonggi Joint Labor Welfare Fund No. 3," with about 60 participants including Gyeonggi Province, the Uijeongbu Branch of the Ministry of Employment and Labor, the Gyeonggi Northern Chamber of Commerce and Industry, and labor and management representatives from participating companies.

Attendees are posing for a commemorative photo at the business agreement ceremony to establish the Gyeonggi Joint Labor Welfare Fund No. 3, held on the 24th at Uijeongbu Munhwa-yeok Ieum. Photo provided by Uijeongbu City

This agreement was prepared to improve the relatively poor welfare conditions of small and medium-sized enterprises and to support the creation of a stable working environment by narrowing the welfare gap with large corporations.

The main support measure is to provide welfare benefits of 1.2 million won per worker per year, in the form of local currency, to workers at small and medium-sized enterprises located in Uijeongbu. The fund will be created through a matching scheme that combines national, provincial, and municipal budgets with contributions from participating small and medium-sized enterprises.

The city expects that the creation of this fund will help increase the real income and improve the quality of life of small and medium-sized enterprise workers amid high inflation, and that, since the welfare benefits will be used as local currency, it will also contribute to forming a virtuous cycle that supports small business owners and neighborhood commercial districts.

An Uijeongbu City official said, "We will continue to create an environment where workers can work with pride," adding, "We will keep providing administrative and financial support and strive to make Uijeongbu a 'city where people want to work.'"