Naju-si, 'Youth Employment Incentive' Application Open Until the 9th of Next Month

[Naju=Asia Economy Honam Reporting Headquarters Reporter Kim Yukbong] Naju City, Jeollanam-do, is recruiting companies to participate in the 'Youth Employment Retention Incentive Support Project' to promote continuous employment stability for young people employed in local small and medium-sized enterprises.

According to the city on the 22nd, this project supports small and medium-sized enterprises where regular young workers in their 1st to 4th year are continuously employed, providing up to 20 million KRW in retention incentives over four years to young workers.

Naju Government Building Exterior
[Photo by Naju City]

The support target is companies located in Naju with 5 to fewer than 300 employees insured under employment insurance, employing regular young workers aged 18 to 39 in their 1st to 4th year of service.

Support is provided for up to 10 employees within 30% of the number of insured employees under employment insurance.

Upon selection, the first year provides an employment incentive of 5 million KRW (3 million KRW to the youth, 2 million KRW to the company), the second year an employment retention fund of 4.5 million KRW (3 million KRW to the youth, 1.5 million KRW to the company), the third year a retention incentive of 5.5 million KRW (4 million KRW to the youth, 1.5 million KRW to the company), and the fourth year a long-term retention fund of 5 million KRW (all 5 million KRW to the youth).

Interested companies can submit applications and related documents by visiting the City Hall Job Economy Division or by mail from the 23rd of this month until the 9th of next month.

Detailed information can be found in the notices and announcements section on the Naju City website.

A city official said, "We hope this will serve as a foundation for mutual growth between companies and youth by stabilizing management of small and medium-sized enterprises facing difficulties due to high inflation and high interest rates, promoting long-term retention of employed youth, and activating regular employment."

Naju=Asia Economy Honam Reporting Headquarters Reporter Kim Yukbong baekok@asiae.co.kr