Icheon-si Supports Rental Costs for Dormitories of SME Workers

Up to 80% of Monthly Rent with a Limit of 300,000 Won per Month

On the 31st, Icheon City in Gyeonggi Province announced that it is recruiting companies to participate in the dormitory rental support project to improve the residential environment for small and medium-sized enterprise (SME) workers and to alleviate the burden on companies.

This project supports a portion of the monthly rent for housing used as dormitories by SME workers. The support is limited to up to 5 workers per company. For each worker, up to 300,000 KRW per month is supported, covering up to 80% of the rent for a maximum of 10 months per year.

Support is available to SMEs located in the Icheon area that have signed a monthly rental contract for dormitories under the business owner's name. Dormitory users must be full-time employees, and priority is given to companies that include new hires or young workers. Starting this year, up to one foreign worker per company can also receive support.

However, the following are excluded from support: ▲headquarters and branches of non-profit corporations ▲office-tels used for business purposes ▲cases where the dormitory is leased under a jeonse (key money deposit) contract. Interested companies must submit application documents to the Corporate Support Team of the Corporate Economy Division in Icheon City by the 16th of next month.

Kim Kyung-hee, Mayor of Icheon City, said, "We will create a business-friendly environment by resolving manpower shortages in promising SMEs and improving the residential conditions for workers."