Korn Ferry and Nakim Consulting to Hold Information Session on Standard Wage System and Support Programs for Petroleum and Chemical Industry

Overview of the Ministry of Employment and Labor's "Support Project for the Spread of Wage System Improvement in the Petroleum and Chemical Industry" and Standard Wage System (Source: Nakim Consulting)

Global HR consulting firms Korn Ferry and Nakim Consulting will hold an information session on August 25 to support the establishment of efficient wage systems for petroleum and chemical companies. The event will provide a detailed overview of the standard wage system for the petroleum and chemical industry and introduce related support programs.

This information session is being held as part of the Ministry of Employment and Labor’s project to promote and expand wage system improvements by industry sector. It is aimed at executives and HR professionals in petroleum and chemical sector companies.

For the purposes of this project, the definition of the petroleum and chemical sector is not limited to the traditionally recognized petrochemical industry. Eligible participants include companies across the chemical industry, including oil refining, chemicals, fine chemicals, plastics, rubber, tires, paints, adhesives, fertilizers, and cosmetics.

The information session is expected to be particularly beneficial for companies that have struggled to reform their wage systems due to inadequate HR infrastructure or lack of expertise.

The event will be held twice in total. The first session will take place at 10:00 AM at the Incheon Chamber of Commerce and Industry, targeting companies located in the Namdong National Industrial Complex. The second session will be held at 2:00 PM at the Siheung Industry Promotion Agency, targeting companies in the Sihwa National Industrial Complex. Each session is expected to last around one hour.

The information session will cover the main features of the standard wage system for the petroleum and chemical industry, developed through the Ministry of Employment and Labor’s initiative, and explain how companies can utilize it. The session will also provide information on government-supported wage system improvement consulting and coaching programs, detail the participation procedures, and accept applications from interested companies. Participating companies will be able to learn about approaches to building rational, job-centered wage systems and the scope of tailored consulting and coaching support.

Companies wishing to participate in the information session can fill out an application form on the Nakim Consulting website. Participation is free of charge, and only companies that register in advance will be able to attend.

Seong Kilyong, Senior Consultant of the Korn Ferry and Nakim Consulting consortium, stated, "This information session is designed to help petroleum and chemical sector companies make the most of the government support program," adding, "We look forward to the interest and participation of companies in the Namdong and Sihwa National Industrial Complexes, as the session will not only introduce the standard wage system but also provide guidance about company-specific wage system improvement consulting and coaching support."

Korn Ferry is a global HR consulting firm that provides a wide range of consulting services in organization, compensation, and leadership for leading domestic and international companies. Nakim Consulting is an HR and organizational consulting firm founded by experts from global consultancies, providing services such as organizational diagnosis, development of job and compensation systems, and organizational culture innovation. Nakim Consulting also serves as an implementation agency for the Ministry of Employment and Labor’s industry-specific wage system improvement and expansion project.

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