Up to 600,000 Won Per Worker Monthly... "This Subsidy" Returns After Two Years

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 two years.

Stock photo unrelated to the article content. The Asia Business Daily DB

The Ministry of Employment and Labor announced on January 1 that it had secured a total budget of 6.9 billion won for the Regular Employment Conversion Support Program and would begin accepting applications from participating companies starting that day.

The program targets companies with fewer than 30 insured employees. Companies that convert fixed-term, dispatched, or in-house subcontracted workers who have worked for more than six months to regular positions, or directly employ them, will be eligible for the subsidy. Employment must be maintained for at least one month after the conversion.

The maximum support amount is 600,000 won per month for each worker converted to a regular position. A base 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 will be granted.

The support period is up to one year. Applications for payment can be submitted every three months.

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 are encouraged to apply as soon as possible.

Choi Gwanbyung, Director of Labor Standards Policy at the Ministry of Employment and Labor, stated, "Converting to regular employment provides workers with a stable foundation for their 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."