Gyeongnam Province Provides 3 Million KRW per New Employee for Startup Companies

Targeting manufacturing SMEs and venture companies less than 7 years old that have hired new personnel after new investments within the last 3 years

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Gyeongsangnam-do is implementing the '2021 Startup Company New Employment Subsidy Support Project.'

The province supports up to 3 million KRW per person and up to 10 people per company when a startup company hires new employees.

The province has secured a total project budget of 600 million KRW and will recruit through each city and county from the 1st of next month until the budget is exhausted.

The support target is small and venture manufacturing companies within 7 years of establishment in the province that have made new investments of 50 million KRW or more within the last 3 years as of the announcement date.

Support is possible if the newly hired employees after the investment completion date continue to work at the company for 6 months after selection.

In particular, this year, the investment restriction period of within the last 3 years and the support requirement of continuous employment for 6 months were added to promote actual investment activation and new employment.

Details on support requirements and application forms can be found on the Gyeongsangnam-do website or each city and county website under the '2021 Startup Company New Employment Subsidy Support Plan.'