SMBC to Launch "Industry Safety Collaborative Mutual Aid" for Hyundai Engineering Partner Companies

A Total of 250 Participants:
200 Dedicated and 50 Concurrent-Duty Personnel

The Small and Medium Business Corporation announced on August 6 that it will implement the 'Industry Safety and Quality Focused Collaborative Mutual Aid' program to support the long-term employment of skilled workers at Hyundai Engineering's construction sector partner companies.

The Small and Medium Business Corporation is holding a business agreement ceremony for the "Industrial Safety and Quality Focused Support Collaborative Mutual Aid" together with Hyundai Engineering. Photo by Small and Medium Business Corporation

This collaborative mutual aid program is operated for safety personnel currently employed at Hyundai Engineering's partner companies that have demonstrated excellence in safety and quality. In addition to the mutual aid contributions paid by individual employees, the corporate contributions required for the performance-based mutual aid plan will be jointly supported by the Small and Medium Business Corporation and Hyundai Engineering.

If safety and quality specialists deposit KRW 100,000 every month into the Tomorrow Filling Mutual Aid Plan, the Small and Medium Business Corporation will contribute an additional KRW 100,000 per month, and Hyundai Engineering will add KRW 240,000 per month. As a result, after three years, participants will receive a principal sum of KRW 15.84 million and compound interest.

For personnel who perform safety and quality work concurrently with other duties, if they deposit KRW 100,000 monthly in the Preferred Savings Mutual Aid Plan for three years, both the Small and Medium Business Corporation and Hyundai Engineering will each contribute KRW 20,000 per month, totalling KRW 40,000 per month. Upon maturity, participants will receive a principal of KRW 5.04 million and compound interest.

The recruitment scale is set at a total of 250 participants, comprising 200 dedicated personnel and 50 concurrent-duty personnel. Hyundai Engineering will first review qualification requirements and select participating companies and employees, after which the Small and Medium Business Corporation will make the final confirmation. The program will officially begin operation in September. Companies wishing to participate must apply by the end of this month.

Cho Hankyo, Executive Director of Workforce Development at the Small and Medium Business Corporation, stated, "In line with the government's policy direction on industrial safety, it is important to support the long-term employment of skilled workers responsible for safety at the field level in small and medium-sized enterprises." He added, "We will continue to provide support so that this mutual aid program can serve as a catalyst for spreading a safe working environment and a culture of mutual cooperation at construction sites."

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