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Gov't Extends Employment Assistance for Shipbuilders by 6 Months

Written: 2018-12-27 16:58:19Updated: 2018-12-27 17:11:55

Gov't Extends Employment Assistance for Shipbuilders by 6 Months

The government has extended special employment assistance for the shipbuilding sector, which is undergoing restructuring, by six more months until the end of June.

The Employment and Labor Ministry held a policy deliberation meeting on Thursday and approved the aid extension for shipbuilders.

Employment support for the sector was to end this year but the government has accepted the extension request by the Korea Offshore and Shipbuilding Association.

The shipbuilding sector was first designated as eligible for special state subsidies for employment in July 2016 and has received assistance for two-and-a-half years as the designation was twice extended. 

This year, the industry has improved and job conditions are recovering, but the labor ministry believes it still needs more support to achieve a soft landing as the sector has just come out of hitting a low point.

The ministry also assesses the support so far has helped to maintain jobs and stabilize the livelihood for the unemployed.

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