Incheon City to Create 500 Regular Youth Jobs...Up to 1.2 Million Won in Long-Service Incentives

Youth Employment Stability Support Program: 5 Billion Won Invested Over 5 Years
Monthly Labor Cost Support of 600,000 Won for Companies Hiring Young Workers

Incheon City will invest 5 billion won by 2030 to create 500 regular jobs for young people.

The city announced on February 26 that, starting this year, it will fully implement the "Youth Employment Stability Support Program" to help reduce unemployment among young people and support their stable settlement in the local community.

This program is a new policy independently prepared by Incheon City in response to the end of the Ministry of the Interior and Safety's "Region-Led Youth Job Program." The key is to provide benefits to both companies and young people when small and medium-sized enterprises and mid-sized companies located in Incheon hire local young residents as regular employees.

For companies, the city will provide up to 600,000 won per month per young worker for up to 12 months to help cover labor costs. For young people, to encourage long-term employment, the city will provide a total of 1.2 million won in long-service benefits, paid as local currency (Incheon e-eum): 600,000 won after 6 months of work and another 600,000 won after 12 months of work.

Incheon City Hall

In the first year of the program, which is this year, the city plans to invest 750 million won to support 70 young people and 50 companies. Companies wishing to participate can apply through the Biz OK website by March 6. After the companies are selected, the process of hiring young workers will proceed.

Eligible companies are Incheon-based businesses with at least 20 full-time employees. However, companies engaged in Incheon's future core growth industries, such as aviation, bio, and robotics, or companies certified by the city as excellent enterprises, may exceptionally apply if they have at least 10 full-time employees.

Eligible young participants are unemployed individuals under the age of 39 (born on or after January 2, 1986) who are registered residents of Incheon City.

An Incheon City official said, "Through this program, we will create a virtuous cycle in the local economy by providing stable regular jobs for young people and labor cost support for companies to hire outstanding talent," adding, "We will actively support young people so that they can plan their future and settle down in Incheon."