Insurance Premium Support Application Also Available at Once
The Ministry of SMEs and Startups and the Ministry of Employment and Labor announced that starting from the 29th, they will implement a one-stop service that allows small business owners to apply for employment insurance enrollment and employment insurance premium support simultaneously to promote the enrollment of small business owners in the ‘Self-Employed Employment Insurance’.
Small business owners who enroll in the self-employed employment insurance can receive support for 50-80% of the insurance premiums for up to five years; however, there had been difficulties as they had to apply separately to each institution for employment insurance enrollment (Korea Workers’ Compensation and Welfare Service) and employment insurance premium support (Small Enterprise and Market Service).
To resolve these inconveniences and enable more small business owners to benefit, the Ministry of SMEs and Startups and the Ministry of Employment and Labor signed a business agreement on August 29 and improved related regulations and systems such as enforcement decrees and notifications. From the 29th, small business owners can apply for self-employed employment insurance enrollment and employment insurance premium support at once through the Korea Workers’ Compensation and Welfare Service. Additionally, there are no separate supporting documents required for the employment insurance premium support application, and the Small Enterprise and Market Service will promptly inform applicants of the results and support status.
Kim Seong-seop, Vice Minister of the Ministry of SMEs and Startups, said, “The establishment of this simplified system for applying for small business owners’ employment insurance premium support is expected to alleviate the burden on small business owners and provide practical help for employment insurance enrollment.” He added, “We will continue to prepare and implement various policies through inter-ministerial cooperation to strengthen the social safety net for small business owners.”
Kim Min-seok, Vice Minister of the Ministry of Employment and Labor, stated, “Self-employed employment insurance is a key social safety net that supports the prevention of business closures and the prompt return to the labor market for the self-employed.” He continued, “In a situation where the number of business closures is approaching one million recently, we will strive to prepare practical measures such as customized employment support linkage and strengthened vocational training through a practice council involving experts and field participants.”
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