Pohang, Seosan Employment Crisis Response Designations Extended by One Year Amid Steel, Petrochemical Slump

Designation extended through Nov. 20 next year
Higher employment retention subsidies and reduced vocational training costs

As downturns in the steel and petrochemical industries continue, the designation of Pohang, North Gyeongsang Province, and Seosan, South Chungcheong Province, as Preemptive Response Areas for Employment Crisis will be extended by one year.

Ministry of Employment and Labor CI.

The Ministry of Employment and Labor said on Nov. 11 that the Employment Policy Deliberation Council had decided to extend the designation of Pohang and Seosan as Preemptive Response Areas for Employment Crisis by one year. The designation will run from Nov. 21 this year through Nov. 20 next year.

The Preemptive Response Area for Employment Crisis program provides advance government support to regions where employment conditions are at risk of deteriorating sharply, helping prevent the situation from developing into an actual crisis. Pohang and Seosan were first designated in November last year, and the designation period was extended in light of current industry conditions and local employment situations.

Employers in the two regions can receive higher employment retention subsidies than those in other regions. Trainees taking vocational training courses with the National Tomorrow Learning Card will pay less out of pocket, and the limits and repayment periods for livelihood stabilization loans will be expanded.

Labor Minister Kim Young-hoon said, "As the steel and petrochemical industries work to overcome a difficult period, the regions connected to these industries are also experiencing employment insecurity. We will strengthen support to ensure that this insecurity does not develop into an actual employment crisis."

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