All 11 corporations selected in government grant competition; 2.96 billion won secured in first half
A joint labor welfare fund program providing practical support to workers at small and medium-sized enterprises has gained momentum after securing government financing.
South Chungcheong Province announced Thursday that all 11 corporations (Nos. 2 through 12) it submitted for the Korea Workers' Compensation and Welfare Service's "2026 First-Half Joint Labor Welfare Fund Government Support Project" were selected, securing a total of 2.96 billion won ($1.91 million) in government grants funded by lottery proceeds.
The joint labor welfare fund program is designed so that the government matches contributions made by small and medium-sized enterprises to funds they establish for improving worker welfare.
In this round, the province earned recognition for a cooperative welfare model involving 11 corporations representing 373 companies and 5,752 workers, securing a large-scale government grant.
Particularly notable was the inclusion of corporations Nos. 9 through 12, which launched for the first time in the first half of this year, broadening the reach of the province's cooperative welfare model.
The secured government funds will go toward holiday welfare payments to workers at small and medium-sized enterprises in the province during the Lunar New Year, chuseok and Labor Day holidays.
For the Lunar New Year this year, the province distributed 1.56 billion won in welfare payments to 3,893 workers at 234 companies. On Labor Day, it provided 719.4 million won to 3,597 workers at 221 companies.
For the upcoming chuseok holiday, the province plans to distribute a record 3.24 billion won in holiday welfare payments to 6,116 workers at 387 companies.
Including the upcoming chuseok payments, cumulative welfare benefits distributed to workers at small and medium-sized enterprises in South Chungcheong Province through the joint labor welfare fund since 2021 will reach 16.81 billion won.
"The joint labor welfare fund serves as a genuine lifeline for workers at small and medium-sized enterprises, who receive comparatively fewer welfare benefits than those at large corporations," a provincial official said. "We will continue to actively identify new corporations and secure as much government funding as possible to build a South Chungcheong Province where everyone who works can be happy."
kwonhl@heraldcorp.com
