Busan Metropolitan City is launching reemployment support for senior workers in response to the aging population. The city announced on the 16th that it will implement the "Busan-type Senior-Suitable Job Hiring Support Program" to expand reemployment opportunities for experienced older workers and ease corporate labor cost burdens.
The program provides partial labor cost subsidies to local companies that hire workers aged 60 or older for 108 designated positions across 10 fields selected by the city. The city will provide up to 600,000 won monthly for eight months, totaling up to 4.8 million won, depending on working hours. Workers hired through the program will also receive employment incentive payments of 100,000 won monthly for up to six months, totaling 600,000 won.
Support is divided into three categories: corporate support, "Senior With Job," and worker support. For new hires or post-retirement rehires, companies receive labor cost subsidies ranging from 2.4 million won to 4.8 million won per person, depending on working hours. The "Senior With Job" arrangement, where two seniors share the same position working 15-20 hours per week, provides an additional 1.2 million won in operating expenses on top of labor cost subsidies.
Eligible businesses are those located in Busan that have hired Busan residents aged 60 or older since January 1 this year. Requirements include minimum 15 working hours per week and employment contracts of at least three months. Small, medium, mid-sized, and large enterprises are all eligible, with support available for up to five employees per company.
Companies wishing to participate can apply online through the Busan Employers Federation website starting today until the budget is exhausted.
