Yeoncheon County Signs MOU for Establishment of "Gyeonggi Joint Labor Welfare Fund No. 4"

39 Companies Join from the Northern Region
KRW 1.2 Million in Local Currency Provided Annually per Worker

Yeoncheon County signed a memorandum of understanding (MOU) for the establishment of the "Gyeonggi Joint Labor Welfare Fund (No. 4)" on February 27 at the Gyeonggi Textile Support Center in Yangju.

Yeoncheon County signed a Memorandum of Understanding (MOU) for the establishment of the 'Gyeonggi Joint Workers' Welfare Fund (No. 4)' on February 27 at the Gyeonggi Textile Support Center (Yangju). Provided by Yeoncheon County

The signing ceremony was attended by Kim Dohyung, Director of the Labor Bureau of Gyeonggi Province; Kim Minho, Gyeonggi Provincial Assemblyman; Park Jongil, Deputy County Governor of Yeoncheon; Kang Suhyeon, Mayor of Yangju; Heo Soon, Deputy Mayor of Dongducheon; Jeong Yunjin, Head of the Uijeongbu Employment and Labor Office; Park Jongseo, Chairman of the Gyeonggi Northern Chamber of Commerce and Industry; as well as labor and management representatives from 39 companies in the northern region, bringing together more than 60 participants to highlight the significance of creating the joint labor welfare fund.

The "Gyeonggi Joint Labor Welfare Fund" is a program based on Article 86-2 of the Framework Act on Worker Welfare, where two or more employers jointly establish a fund and the government matches contributions up to 100%. The initiative is designed to enhance the livelihood stability and welfare of workers at small and medium-sized enterprises (SMEs).

This "Gyeonggi Joint Labor Welfare Fund (No. 4)" involves the participation of 39 companies from the northern region, with a particular focus on small businesses with 30 or fewer employees, aiming to bridge welfare gaps. In Yeoncheon County, 10 local companies are participating, and more than 100 workers are expected to benefit. Each participating worker will receive KRW 1.2 million annually in local currency, which is anticipated to not only increase workers’ real income but also boost the local economy through increased regional spending.

An official from Yeoncheon County stated, "The joint labor welfare fund serves as a win-win model to provide welfare programs that are difficult for small and medium-sized enterprises to manage alone. By supporting workers with KRW 1.2 million in local currency per year, we aim to improve their quality of life and create a virtuous cycle that revitalizes local businesses."

This content was produced with the assistance of AI translation services.