Government Resumes Regular Employment Conversion Support Program
Targeting Companies with Fewer Than 30 Employees
Up to 600,000 Won per Month Provided per Worker
The "Regular Employment Conversion Support Program," which provides up to 600,000 won per month to companies that convert non-regular workers to regular positions, will be reinstated after a two-year hiatus.
On January 1, the Ministry of Employment and Labor announced, "We have secured a total budget of 6.9 billion won for the Regular Employment Conversion Support Program and will begin recruiting participating companies starting today."
The program targets companies with fewer than 30 insured employees. Subsidies are granted when fixed-term, dispatched, or in-house subcontracted workers who have worked for more than six months are converted to regular positions or directly hired. Employment must be maintained for at least one month after conversion.
The support amount is up to 600,000 won per month for each worker converted to a regular position. A basic payment of 400,000 won is provided upon conversion. If the average monthly wage is increased by 200,000 won or more after conversion, an additional 200,000 won can be received.
The support period is up to one year. Applications for payment can be submitted in three-month intervals.
Companies wishing to participate in the program can apply through the Employment24 website or by visiting a nearby employment center. As the budget is limited, companies interested in receiving support are encouraged to apply as soon as possible.
Choi Kwanbyung, Director of Labor Standards Policy at the Ministry of Employment and Labor, said, "Converting to regular employment strengthens the foundation of workers' lives and is an investment that enhances corporate competitiveness by attracting talent. We hope this support program will serve as an opportunity to create a mutually beneficial labor market."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
