Hapcheon-gun Implements Subsidy Program for New Employment in Startup Companies

Up to 3 Million KRW in Labor Subsidies
for Each Newly Hired Employee at Startups

Hapcheon-gun, Gyeongnam announced on the 27th that it will implement a subsidy program for new employment in startup companies to support the growth of small and medium-sized enterprises and the creation of new jobs in the region.

This program provides up to 3 million KRW per person in labor costs for up to three newly hired employees when a startup company makes a new investment and hires new personnel. Eligible recipients are small and medium-sized venture companies engaged in manufacturing, knowledge-based services, and information and communication industries that have been established for less than seven years within the jurisdiction.

Hapcheon County Office building.

As of the announcement date (February 14), the company must have invested more than 50 million KRW in construction, equipment, intellectual property rights, etc., within the last three years. Recognized new investments include ▲construction costs for non-residential buildings (factories, commercial buildings, offices, etc.) ▲installation costs for civil engineering structures (roads, ports, water and sewage, electricity, communication facilities) ▲purchase costs for machinery and equipment (research equipment and software, etc.) ▲intellectual property rights acquisition costs, among others.

The subsidy is provided if the startup company completes the investment and the newly hired employees continue to work for more than six months.

Application forms can be downloaded from the Hapcheon-gun website, and companies wishing to apply must prepare the application and required documents and submit them directly to the Corporate Support Division of the Job Economy Department of Hapcheon-gun or send them by mail.

Kim Yoon-cheol, the county governor, said, “I hope that startup companies, which strive for facility investment and job creation despite difficult economic conditions, can maintain employment and grow further through this support program.”