Jungjingong and Incheon-si Seo-gu Join Hands to Support Local SMEs with Naeil Chaeum Deduction Program

Signing of Business Agreement for 'Seoguhyeong Naeilchaeum Gongje'
Preferential Support for Local Companies Related to Green New Deal through Local Government Cooperation

Small and Medium Business Corporation

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 25th that it signed the 'Seogu-type Tomorrow Filling Deduction Business Agreement' with Seo-gu, Incheon City (District Mayor Lee Jae-hyun) to stabilize employment in local SMEs.

The Tomorrow Filling Deduction is a policy-based deduction project in which small business owners and key personnel jointly accumulate deduction funds at a certain rate, and if the key personnel work long-term for more than five years, the accumulated funds are paid as performance rewards. The 'Seogu-type Tomorrow Filling Deduction' is the first collaborative project in Incheon and is expected to revitalize the local economy.

According to this agreement, SBC will support subscription to the Tomorrow Filling Deduction and manage its operation, while Seo-gu, Incheon City will handle recruitment of eligible applicants and payment of support funds. Seo-gu, Incheon City plans to support the corporate burden of deduction subscription by providing 150,000 KRW monthly for five years to manufacturing SMEs within the district. Recruitment will begin in early March, with a final selection of 50 companies. In particular, SMEs in the Green New Deal sector will be given preferential treatment when selecting support targets.

Kim Hak-do, Chairman of SBC, stated, "Through business promotion based on collaboration with local governments, we expect to create quality jobs and contribute to the achievement of region-led Korean New Deal outcomes," adding, "We will continue to work with Seo-gu to stabilize employment and create jobs in local SMEs."