In the steel and petrochemical recession... Preemptive response to employment crisis in Pohang and Seosan extended by 1 year

Continue to provide support such as preferential employment maintenance subsidies and reduction of out-of-pocket costs for vocational training.

(Seoul = Yonhap News) Reporter Hyewon Han = As the recession in the steel and petrochemical industries continues, the period for designating Pohang City in North Gyeongsang Province and Seosan City in South Chungcheong Province as employment crisis preemptive response areas will be extended by one year.

The Ministry of Employment and Labor announced that it held an employment policy deliberation meeting on the 11th and decided to extend the designation period of Pohang City in North Gyeongsang Province and Seosan City in South Chungcheong Province as employment crisis preemptive response areas by one year.

Accordingly, the designation period will be extended from the 21st of this month to November 20th of next year.

The employment crisis preemptive response area is a system in which the government preemptively supports areas where employment conditions are at risk of rapidly worsening and manages them to prevent an actual employment crisis from occurring.

Pohang and Seosan, which are experiencing employment instability due to the recession in the steel and petrochemical industries, were first designated as preemptive response areas in November last year, and the designation period was extended in consideration of the current industry situation and local employment situation.

With this decision to extend, Pohang and Seosan will receive preferential treatment in the support requirements and level of government support projects such as employment maintenance subsidies.

Employers in Pohang and Seosan can receive higher employment maintenance subsidies than other regions, and students who receive vocational training with the National Tomorrow Learning Card can participate in training with lower out-of-pocket expenses.

When applying for a livelihood stabilization loan, the loan limit and period are expanded.

Minister of Labor Kim Young-hoon said, "As both the steel and petrochemical industries overcome difficult times, related regions are also experiencing employment instability. We will strengthen support and respond by closely observing the local employment situation to prevent this anxiety from leading to an actual employment crisis."