‘Carrot’ for Long-term Recruitment in Small and Medium Enterprises... Ulsan-type Naeil Chaeum Deduction

Ulsan City and Ulsan Headquarters of Small and Medium Business Corporation Together

"Opportunities for Venture and Youth Startup Companies, Talent Settlement"

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] A mutual support fund project involving companies that hire talent from small and medium-sized enterprises (SMEs) in the Ulsan area and the Ulsan City government is being promoted.

On the 9th, Ulsan City announced that it will implement the ‘2023 Ulsan-type Tomorrow Filling Deduction Support Project’ to encourage long-term employment of key personnel in SMEs and help workers build assets.

The Ulsan-type Tomorrow Filling Deduction Support Project is a program where business owners who have joined the existing ‘Tomorrow Filling Deduction’ of the Ministry of SMEs and Startups can switch to the ‘Ulsan-type’ this year, and for 2 years out of the 5-year subscription period, Ulsan City supports 100,000 KRW per month out of the 240,000 KRW monthly company contribution.

The existing Tomorrow Filling Deduction system requires workers to pay 100,000 KRW and companies to pay 240,000 KRW monthly for 5 years, and upon maturity, workers can receive more than 20 million KRW including compound interest. The Ulsan-type reduces the company’s financial burden.

The Ulsan-type support project offers opportunities not only to SMEs (including mid-sized companies) with 5 or more regular employees but also to venture companies and youth start-ups with fewer than 5 regular employees.

This year’s support scale is 200 million KRW, with about 100 people supported.

Applications will be accepted on a first-come, first-served basis starting from the 13th. Companies wishing to participate must sign up as members on the Tomorrow Filling Deduction website and submit the application form and other documents by visiting or mailing them to the Ulsan Regional Headquarters of the Small and Medium Business Corporation.

An official from Ulsan City said, “Key personnel can establish their future plans and living foundations through early career development, and business owners can stably employ excellent talent, thereby supporting the future growth of SMEs.”