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Jeju is to create 3,000 jobs in the social economic sector with KRW 69 bn investment

According to Yonhap News,

(JEJU=Yonhap News) Jeju province is set to create 3,00 jobs in the social economy sector by injecting KRW 69 billion including national and provincial budgets, and private investment by 2022.

On September 2, the island announced that it will create 3,000 jobs in the social economy field such as care services and business of public interest by implementing its "Jeju Social Economy Newdeal Job 3000 Roadmap" by 2022.

The roadmap dictates to foster the companies, expand jobs, and nurture talent through financial support for social enterprises.

It also requires to foster institutions in relation with social economy, such as a center for social economy support, and an academy for social economy enterprise, among others.

The province aims to get 385 people employed at social enterprises, and create 675 jobs in 2020, 805 in 2021, and 887 in 2022.

The island government will invest a total of KRW 34.7 billion, including national budget of KRW 23.7 billion and provincial budget of KRW 11 billion, and attract KRW 34.3 billion investment from the private sector.

According to an Act on fostering social enterprises, social enterprises are pursuing social interest such as improving quality of residents' life by providing social service or jobs to the disadvantaged, while engaged in economic activities such as producing and selling products and services.

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Source Text

** This article was translated from Korean.

Source: Yonhap News (September 2, 2019)


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