Recognition of outstanding senior employment performance follows initial designation in 2020, securing up to 50 million won in subsidies; company to hire 20 or more seniors annually through 2031, creating stable and sustainable jobs for older workers
Geumcheon-gu announced that Geumcheon Job Co., a district-funded enterprise, has been re-designated as an outstanding senior-friendly company by the Ministry of Health and Welfare.
The re-designation is granted to companies that have demonstrated exceptional results after their initial senior-friendly designation period. As a result, the company will receive subsidies of up to 50 million won ($36,800) to improve working conditions and amenities for older employees and strengthen safety management.
The company will also receive consulting support covering technology, sales channels, human resources, labor relations, and tax and accounting matters.
Under this re-designation, the company will be subject to a management period running through Dec. 31, 2031.
Geumcheon Job Co. was evaluated on a comprehensive set of criteria covering the original designation period through 2025, including quantitative indicators such as the degree to which senior employment targets were met, payroll performance, financial soundness and employment growth rate, as well as qualitative factors such as business suitability, job creation, improvements to working conditions and broader community impact.
Against a 2025 target of 20 employees, the company achieved 275 percent of its goal, recording 55 workers with 12 or more consecutive months of employment. The strong long-term retention rate demonstrated that Geumcheon Job Co. provides a stable working environment for older employees. The company also received high marks for its positive impact on the local community.
The district added that Geumcheon Job Co. plans to hire at least 20 senior workers annually starting in 2027 and will continue to improve working conditions and safety management systems to reduce physical strain on employees.
Geumcheon Job Co. was established in August 2020 with full funding from Geumcheon-gu to create jobs for employment-vulnerable groups, including older workers, and to revitalize the local economy. It has provided stable employment for vulnerable job seekers through a range of operations, including management of public facilities and the environment, and café operations.
The company has placed particular emphasis on expanding senior employment and fostering a stable work environment. Those efforts earned a grand prize in 2022 and an excellence award in 2023 at the Senior Job and Social Activity Support Project evaluation organized by the Korea Employment Agency for the Elderly.
Geumcheon-gu District Mayor Choi Ki-chan said the re-designation "reflects the results of Geumcheon Job Co.'s consistent efforts to improve senior employment and working conditions." He added that the district would "continue to expand stable and sustainable jobs that allow seniors to put their experience and capabilities to use."
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