I will help with insurance premiums, water and sewage fees, and local taxes... Please, just no layoffs

Ulsan City Takes Active Steps to Protect Jobs in Small and Medium Enterprises
Applications Open Until the 24th for Ulsan-Type Job Protection Agreement Companies
Targeting Small and Medium Manufacturing Businesses with 5 or More Employees... 7 Admini

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Ulsan City has taken steps to protect manufacturing jobs.

Ulsan City is recruiting companies willing to commit to maintaining employment for six months to promote local employment stability and the culture of job retention in response to the prolonged COVID-19 pandemic.

The recruitment targets are small and medium-sized manufacturing companies with five or more regular employees that can promise to maintain employment for six months after the agreement.

These companies will receive administrative and financial support from Ulsan City.

For the agreement companies, expert consulting in areas such as finance, labor, taxation, finance, and training will be provided through the Employment Retention Support Group, along with support for the employer's share of the four major social insurance premiums.

Companies that submit an employment retention action plan to the Ministry of Employment and Labor and receive employment retention support funds will be additionally supported with employment retention incentives.

Through the Ulsan Economic Promotion Agency, employment stabilization funds will be linked, allowing a two-year grace period with lump-sum repayment within a limit of 200 million KRW, and companies subscribed to accounts receivable insurance will receive 50% of the insurance premium supported through the Credit Guarantee Fund.

Various local taxes and water and sewage charges will be deferred through each district/county and the Waterworks Headquarters.

Companies wishing to participate in the job retention agreement can apply to the Ulsan Job Foundation from the 8th to the 24th. Regarding support, documents proving employment retention after the agreement should be submitted to each support institution.

The job retention agreement can be made at any time even after the application period, and support can be received for six months after the agreement.

An official from Ulsan City said, “At this time when the local economy is becoming more difficult due to COVID-19, we hope that various administrative and financial supports through the agreement will be a great help to small and medium-sized local manufacturing companies.”