'Annual 13.5% Interest Rate' SME Savings Deduction Reaches 30,000 Subscribers

Achieved in Changwon, Gyeongnam... Only 116 Days Since Launch
Ministry of SMEs and Startups Holds Meeting to Address Workforce Shortages
"Strengthening Tailored Support for Regional SMEs"

The number of subscribers to the 'Small and Medium Enterprise Employee Preferential Savings Deduction,' which offers an annual interest rate of up to 13.5%, has reached 30,000.

On the 14th, Oh Young-joo, Minister of the Ministry of SMEs and Startups, held a ceremony at the IBK Industrial Bank Changwon Branch in Changwon, Gyeongnam, to congratulate and encourage the 30,000th subscriber to the Small and Medium Enterprise Employee Preferential Savings Deduction.

Oh Young-joo, Minister of SMEs and Startups, is giving a greeting at the "Infinite Imagination Meeting to Resolve Regional SME Workforce Mismatch" held at IBK in Changwon, Gyeongnam on the 14th. Provided by the Ministry of SMEs and Startups

The Small and Medium Enterprise Employee Preferential Savings Deduction reached 30,000 subscribers just 116 days after its launch on October 22 of last year. This product offers a high-yield savings effect with an annual interest rate of up to 13.5%, including preferential interest rates. Compared to the 'Youth Employee Tomorrow Filling Deduction' introduced in 2018, which reached 28,000 subscribers in seven months after its launch, this is about twice as fast.

Following this, a meeting was held with representatives from seven small and medium manufacturing companies in sectors such as root industries, machining, and shipbuilding, which face significant challenges in workforce management, located in Changwon and the Gyeongnam region, along with officials from the local Small and Medium Business Administration, Employment and Labor Office, and related organizations.

At the meeting, opinions were presented on ▲ expanding tax reductions for SMEs that have increased employment ▲ support such as interest rate reductions for SMEs with increased employment ▲ easing the employment permit system for foreign workers and introducing region-specific customized visa systems.

Minister Oh stated, "We will strengthen cooperation with related ministries such as the Ministry of Economy and Finance," and added, "The Ministry of SMEs and Startups will also enhance tailored support to resolve regional SME workforce issues, including asset formation for SME employees and workforce matching support."