In a rapidly aging society, Korea’s capital is deploying financial incentives to redefine what it means to grow old in the workforce.

Municipal officials on Monday opened applications for businesses to participate in the upcoming 2026 Senior Job Fair, offering companies a completely subsidized recruitment platform — alongside direct cash subsidies of up to 5.5 million won ($4,000) per senior hire through its ongoing Senior Internship Program — to actively incentivize local firms to adopt age-inclusive hiring practices.

The initiative comes as Korea faces an unprecedented demographic transition, boasting one of the world's fastest-aging populations alongside historically low birthrates. To address shrinking labor pools and keep healthy older adults economically active, municipal policies have pivoted sharply toward creating dignified, sustainable second careers for seniors. The cash subsidies, which cover wage support and employment retention bonuses, apply to Seoul-based businesses with five or more full-time employees that hire workers aged 60 or older, with retroactive coverage extending to contracts signed earlier this year.

Scheduled for Sept. 17 at the Yangjae aT Center, the city's flagship recruitment fair aims to bridge the gap between experienced older professionals and hiring managers across various sectors. The city will cover all participation fees and booth operating costs, providing participating companies with pre-event online job postings, on-site interviews, dedicated corporate promotion and postevent candidate matching via specialized career consultants.

To streamline the experience for older job seekers, officials enhanced the Mobile Helper web platform for this year's fair. The system allows applicants to log in via a simple mobile phone verification rather than complex passwords, check interview wait times in real time and schedule appointments effortlessly using a QR code. Employers, meanwhile, gain access to real-time talent search tools to identify candidate profiles during the event.

The program builds on the momentum of the inaugural 2025 fair, which brought together 73 major companies — including retail giants like GS Retail and logistics firms like Tada — and drew over 3,100 senior job seekers. Parallel job training programs run by the city have already seen nearly half of their 341 recent graduates secure employment.

"The experience and expertise of senior workers are vital assets that enhance corporate competitiveness," said Jung Jin-woo, director-general of Seoul’s Welfare Bureau.

As the nation grapples with shifting demographics, Seoul city government officials said they hope to turn the aging population into a renewed engine for economic growth.

This article was published with the assistance of generative AI and edited by The Korea Times.