ID :
104793
Fri, 02/05/2010 - 14:05
Auther :
Shortlink :
https://www.oananews.org//node/104793
The shortlink copeid
Gov't pushes to create jobs with tax deductions, other incentives
SEOUL, Feb. 5 (Yonhap) -- The government said Friday that it will provide tax deductions for small and medium enterprises (SMEs) if they boost their employment of full-time workers, a move aimed at helping kick-start the nation's sluggish job market.
The tax credit of 3 million won (US$2,550) per additional member of staff will be
granted across 33 business sectors ranging from manufacturing, retail and
wholesale to construction, the Ministry of Strategy and Finance said in a press
release.
The move is part of government measures endorsed by economy-related ministries
who convened a meeting earlier in the day to discuss how to boost job creation.
They followed up on the government's first employment strategy meeting this year
chaired by President Lee Myung-bak on Jan. 21.
Under the measures, the government said that it will also strengthen a job
information network in a bid to tackle the so-called "mismatch" in the job market
where job seekers scramble to find work at well-paying and stable companies,
leaving many SMEs short of needed workers.
In a related move, incentives will be given to private job placement agencies to
encourage a more active role in linking job seekers and needy companies.
When a person lands a job at an SME registered in the recruitment info network
named "Work Net" and stays at the company for one year or longer, he or she can
also receive up to 1.8 million won in state subsidies. It is aimed at helping
smaller companies secure a stable pool of employees, the ministry said.
Those measures, mostly to be effective until the first half of next year, were
announced amid growing concern that the nation's labor market slump will continue
for some time despite the faster-than-expected economic recovery.
According to official estimates, the jobless figure totaled 890,000 at the end of
last year, up from 770,000 a year ago. The nation's jobless rate also rose from
3.2 percent to 3.6 percent over the cited period.
Job creation is one of the government's top priorities this year as it can help
bolster domestic demand and eventually help accelerate the overall economic
recovery.
kokobj@yna.co.kr
(END)
The tax credit of 3 million won (US$2,550) per additional member of staff will be
granted across 33 business sectors ranging from manufacturing, retail and
wholesale to construction, the Ministry of Strategy and Finance said in a press
release.
The move is part of government measures endorsed by economy-related ministries
who convened a meeting earlier in the day to discuss how to boost job creation.
They followed up on the government's first employment strategy meeting this year
chaired by President Lee Myung-bak on Jan. 21.
Under the measures, the government said that it will also strengthen a job
information network in a bid to tackle the so-called "mismatch" in the job market
where job seekers scramble to find work at well-paying and stable companies,
leaving many SMEs short of needed workers.
In a related move, incentives will be given to private job placement agencies to
encourage a more active role in linking job seekers and needy companies.
When a person lands a job at an SME registered in the recruitment info network
named "Work Net" and stays at the company for one year or longer, he or she can
also receive up to 1.8 million won in state subsidies. It is aimed at helping
smaller companies secure a stable pool of employees, the ministry said.
Those measures, mostly to be effective until the first half of next year, were
announced amid growing concern that the nation's labor market slump will continue
for some time despite the faster-than-expected economic recovery.
According to official estimates, the jobless figure totaled 890,000 at the end of
last year, up from 770,000 a year ago. The nation's jobless rate also rose from
3.2 percent to 3.6 percent over the cited period.
Job creation is one of the government's top priorities this year as it can help
bolster domestic demand and eventually help accelerate the overall economic
recovery.
kokobj@yna.co.kr
(END)
