Gangwon-do Extends '333 Fund' Support for Job Creation and Retention Until September

Loan of 30 Million KRW Per Person for New Regular Employees
30% Incentive on Loan Amount for Maintaining Employment for 3 Years

Gangwon Provincial Government

[Asia Economy Reporter Ra Young-cheol] Gangwon Province announced on the 3rd that the "Employment Creation and Retention Fund (333 Fund)" support project, which was scheduled to end in June, will be extended and operated until September due to the expansion of the loan scale to 225 billion KRW (originally 200 billion KRW).

The 'Employment Creation and Retention Fund (333 Fund)' support project is Gangwon Province's nationwide first employment-linked loan and incentive support policy, which provides interest-free loans of 30 million KRW when small and medium-sized enterprises and small business owners hire one regular employee, and offers an incentive of 30% of the loan amount if maintained for three years.

Accordingly, companies that have passed two months after new hiring can continuously apply for loan funds through the Gangwon Credit Guarantee Foundation, and this applies only to new hires by July 31 of this year.

So far, through the Employment Creation and Retention Fund (333 Fund), 3,488 companies have newly hired 5,644 regular employees and received 169 billion KRW in loan funds by the end of June.

The province judges that the '333 Fund' is contributing to the expansion of regular employment and employment stabilization, and expects an employment creation effect of more than 800 people with the extension of the project period and the expansion of the loan scale.