Chungnam Supports Social Insurance Premiums for Small Business Owners... Applications Accepted Until the 10th of Next Month

[Asia Economy (Hongseong) Reporter Jeong Il-woong] Chungnam Province supports social insurance premiums for local small business operators.

The province announced on the 17th that it will accept applications for the 'Small Business Social Insurance Premium Support Project (4th quarter of 2020)' from the 18th of this month to the 10th of next month.

The support targets small business workplaces in the province that employ fewer than 10 workers who receive an average monthly wage of less than 2.15 million KRW (based on 2020) and are enrolled in the Durunuri support project of the Korea Workers' Compensation & Welfare Service and the National Pension Service.

However, associations and organizations that are not small business operators, resident representative meetings, and apartment management offices are excluded from the support.

Applications can be made at city/county offices and eup/myeon/dong community service centers according to the workplace location (in Cheonan, only Cheonan City Hall and Seobuk District Office; in Asan, Gyeryong, and Cheongyang, only city/county offices).

The support funds are paid quarterly after the business operator pre-pays the insurance premiums monthly and applies for payment.

Existing businesses that applied last quarter can receive support without a separate application. However, if there is a new hire or resignation of a worker, a change application must be submitted.

In the third quarter of last year, 8,324 businesses received support for social insurance premiums, benefiting 20,875 workers with a total of 6.545 billion KRW.

A provincial official said, "The small business social insurance premium support project was successfully completed last year," and added, "We hope for active participation from small business operators in the province in the first quarter of this year as well."