SBC, 'Employment Insurance Premium Support for Solo Small Business Owners' Business Agreement

[Asia Economy Reporter Kim Daeseop] The Small Enterprise and Market Service announced on the 27th that it will establish a cooperative system to support employment insurance for one-person self-employed workers in the region through a business agreement on 'Employment Insurance Premium Support for One-Person Small Business Owners' with Gyeonggi Province and the Korea Workers' Compensation and Welfare Service.

Under this agreement, one-person small business owners in Gyeonggi Province will receive support for their insurance premiums for up to three years, with Small Enterprise and Market Service subsidies covering 30-50% and Gyeonggi Province subsidies covering 30%, resulting in a maximum of 80% support. Overlapping benefits can be received from both the Service and local governments.

The employment insurance support project for one-person self-employed workers, promoted by the Ministry of SMEs and Startups and the Small Enterprise and Market Service, supports part of the employment insurance premiums for one-person small business owners who have subscribed to 'Self-Employed Employment Insurance.' It provides 30-50% of the monthly employment insurance premium for three years, with the support rate varying according to the standard wage level.

The support targets small business owners with no employees and standard wage grades 1 to 4 who have subscribed to self-employed employment insurance. Small business owners first subscribe to employment insurance and then apply for employment insurance premium support to the Small Enterprise and Market Service and Gyeonggi Province. Eligibility is confirmed by verifying the presence of employees and the standard wage grade. After confirming the insurance premium payment record, the support fund is paid.

Jo Bonghwan, Director of the Small Enterprise and Market Service, said, "One-person small business owners are in a dual position as both employer and employee," adding, "This is an opportunity to enjoy benefits such as unemployment benefits and vocational training expenses, which were previously recognized as the employee's share."