Jeonnam Province Provides Incentives to 'Excellent Job-Creating Companies'

Preferential Benefits Including 20 Million Won Employment Environment Improvement Fund and Promotion of Excellent Products

[Muan=Asia Economy Honam Reporting Headquarters, Reporter Yoon Jamin] Jeonnam Province announced on the 13th that it will discover companies striving to create good jobs, certify them as ‘2021 Excellent Job Creation Companies,’ and provide incentives such as employment environment improvement funds to support stable growth.

The applicants must be companies located in Jeonnam that have been operating normally for more than 2 years (or more than 1 year for companies relocated from other cities or provinces).

In the past year, the scale of job increase must meet the following conditions: ▲for companies with 100 or more employees, an increase of 5% or more ▲for companies with 50 to less than 100 employees, an increase of 5 or more ▲for companies with fewer than 50 employees, an increase of 3 or more.

If selected as an excellent company, benefits include an employment environment improvement fund of 20 million KRW, awarding of a certificate and plaque, preferential support for SME funding, exemption from local tax audits for 3 years, and preferential treatment when selected for SME excellent product promotion projects.

Companies wishing to participate can check the details on the Jeonnam Province or city/county websites and apply in person or by mail to the relevant department of the city/county where the company is located from September 1 to 15.

The province plans to encourage many companies to challenge for the excellent company certification through extensive promotion, and after document screening and on-site inspection, certify a final 20 companies in October.

Since 2015, 80 companies that have contributed to job creation have been certified as excellent companies.

Starting this year, the evaluation indicators will include ‘work-life balance participation’ to encourage voluntary participation by companies in creating a good working environment.

Improvements have also been made to address shortcomings observed during the implementation process so far, ensuring capable companies are selected.

Among this year’s evaluation indicators, the ‘increase in young workers’ indicator has been changed from a rate of increase to an increase in number.

The social contribution indicator has also been changed from the number of cases to the contribution rate relative to sales, and although excellent companies previously received scoring benefits when applying for youth retention incentives, overlapping benefits were deemed unreasonable, so scoring for this was excluded.

Seo Inam, Head of the Job Economy Division of Jeonnam Province, said, “The excellent job creation company certification project helps improve corporate image and supports stable growth,” and added, “We ask for the participation of many companies striving to create good jobs.”