Gyeongbuk Province Supports Lump-Sum Savings for 70 Small Business Workers

[Asia Economy Yeongnam Reporting Headquarters, Reporter Jucheol In] Gyeongsangbuk-do announced on the 22nd that it signed an agreement with the Small and Medium Business Corporation to provide small and medium enterprise workers with an opportunity to accumulate a lump sum through the Tomorrow Savings Deduction program.

Starting at the end of this month, workers at small and medium enterprises in the province who join the Small and Medium Business Corporation's 'Gyeongbuk Love Tomorrow Savings Deduction' and pay 6 million KRW over 5 years will receive 21 million KRW upon maturity.

Every month, SME workers contribute 100,000 KRW, companies 140,000 KRW, and the province 100,000 KRW to build up the lump sum.

The Tomorrow Savings Deduction is a system where SME business owners and workers jointly accumulate deduction funds over 5 years and provide performance rewards to the workers.

The province supports 100,000 KRW per month per worker from the employer's contribution. From the 23rd, 70 participants (up to 5 per company) will be recruited through the province and corporation websites.

The province expects that support for the Tomorrow Savings Deduction will help increase SME workers' income and promote long-term employment.

Lee Cheol-woo, Governor of Gyeongbuk Province, said, “We will focus support on companies with a strong willingness to invest in manpower and plan to expand the target in the future.”