The government will provide the nation’s top three shipbuilders with special assistance to encourage them to maintain jobs.
 
In a ministerial meeting on Thursday, the government has decided to offer financial assistance to the three struggling shipbuilders—Hyundai Heavy Industries, Daewoo Shipbuilding and Marine Engineering and Samsung Heavy Industries. They will be designated as companies entitled to special employment assistance for four months starting from March. The measure is expected to benefit the shipbuilders’ 50-thousand workers.
 
The government will provide greater subsidies to the shipbuilders if they maintain employment by letting their employees take a paid leave of absence instead of laying them off. The amount of financial assistance will increase to two-thirds of the companies’ expenses to pay workers on leave from the current 50 percent. A cap on daily payment will also be raised from 46-thousand won to 60-thousand won.
 
The government has made the decision in recognition of the shipbuilders’ efforts to restructure and rescue themselves. The companies have announced their plans to cut 14-thousand jobs this year, an additional move to the layoffs of some five-thousand workers last year.