Jeju-do Invests 18.7 Billion Won in Self-Sufficiency Projects for Low-Income Households

Up to 1.5 Million KRW Self-Sufficiency Success Grant Introduced

Jeju Island Government Office

Jeju Special Self-Governing Province announced on the 20th that it will invest 18.7 billion KRW this year in self-sufficiency projects to support the sustainable independence of low-income households.

The main initiatives include self-sufficiency work programs that provide direct jobs, asset-building support projects that help establish economic independence, and support for the establishment of self-sufficiency enterprises.

First, the self-sufficiency work program provides jobs to conditional beneficiaries and near-poor individuals. This year, the budget has been increased by 700 million KRW compared to last year, totaling 11.7 billion KRW. In particular, a total of 54 self-sufficiency work teams will be operated, including seven new teams such as '064 Bangyeok.' Participants will receive a maximum monthly salary of 1.67 million KRW, which is a 3.7% increase from last year.

The asset-building support project, which helps low-income individuals with earned or business income save a lump sum, will also be expanded. Jeju Province will invest 3.4 billion KRW to provide matching savings of 100,000 to 300,000 KRW per month to 2,499 people through account programs such as the Youth Tomorrow Savings Account.

Especially starting this year, for subscribers to the Hope Savings Account II (for those with a median income of 50% or less), the matching savings support will increase annually to encourage long-term participation. Until last year, 100,000 KRW was provided regardless of the year, but from 2025, support will increase to 100,000 KRW per month in the first year, 200,000 KRW in the second year, and 300,000 KRW in the third year.

The newly introduced Self-Sufficiency Success Grant will provide up to 1.5 million KRW to participants in the self-sufficiency work program who become ineligible for livelihood benefits through employment or entrepreneurship.

Participants can receive 500,000 KRW after maintaining employment or business for six months, and 1 million KRW after an additional six months. The province will also strengthen support for self-sufficiency program participants and self-sufficiency enterprises by utilizing self-sufficiency and livelihood stabilization funds.

Support for workplace rental fees will be increased by 10% compared to last year, totaling 310 million KRW, and annual 1% (fixed rate) loan support and interest subsidies will also be provided.

For the development of Jeju-style joint brands such as '064 Bangyeok,' the province will collaborate with metropolitan and local self-sufficiency centers (five locations) and self-sufficiency enterprises (20 locations).

In addition, support for participants in obtaining certifications, moving expenses, and benchmarking excellent self-sufficiency programs from other regions will be expanded.

Lee Hyeran, Director of the Welfare and Family Bureau, said, "As self-sufficiency work teams participate as service providers in Jeju Value Care, we are realizing social value by improving the quality of life for local residents through coexistence and cooperation," adding, "We will continue to support self-sufficiency projects in partnership with self-sufficiency centers to ensure sustainable independence."