Geumcheon-gu Provides Up to 6 Million KRW Employment Subsidy Per Company for Residents

Geumcheon-gu Supports 'Resident Employment Subsidy' to Increase Local Employment
Targeting Local SMEs Hiring Residents After January 1, 2024
Paying Up to 3 Million KRW per Employee for Maintaining Employment Over 4 Months at 500,000 KRW Monthly

Geumcheon-gu (Mayor Yu Seong-hoon) announced that it will provide a 'Resident Employment Subsidy' of up to 3 million KRW per person to small and medium-sized enterprises (SMEs) that have employed local residents for more than four months.

This initiative was established to offer practical support to local SMEs struggling due to the economic downturn and to contribute to job creation for local residents.

The district revised the 'Ordinance on Support for Resident Employment Subsidies in Geumcheon-gu, Seoul' to expand the eligibility criteria. The age of eligible workers was lowered from 36 to 15 to promote youth employment. Additionally, small business owners and SMEs registered with employment insurance can receive support regardless of the number of employees.

From January 1 of this year, SMEs located in Geumcheon-gu that hire Geumcheon-gu residents as regular employees and maintain their employment for more than four months will receive the resident employment subsidy. After three months of employment, companies can receive 500,000 KRW per month for six months, up to a maximum of 3 million KRW, with a maximum of two supported employees per company.

Applications can be made from the date the company hires a new resident employee. Eligibility requirements and application forms can be found and downloaded on the Geumcheon-gu Office website under 'Geumcheon News.' Applications can be submitted in person at the Job and Youth Division of the district office or via email. Subsidy support will end early if the budget is exhausted.

Mayor Yu Seong-hoon of Geumcheon-gu stated, “We expanded the support targets to provide jobs for youth and assist SMEs facing difficulties due to high inflation and interest rates. We will do our best to develop policies that help expand employment opportunities and revitalize public livelihood.”

For more details, please contact the Job and Youth Division of Geumcheon-gu Office.