Guide to the Government Support Programs for Youth and Businesses
1) Government Incentives and Support for Hiring Additional Youth Workers
| Content | Support labor costs for SMEs and Middle Market Enterprises that have additionally hired young people as full-time workers. |
|---|---|
| Eligibility | Companies employs 5 or more employees and have newly hired young people (between 15 and 34 years of age) as full-time employees. SMEs and Middle Market Enterprises(Less than 5 employees is acceptable for promising growth companies and venture companies) |
| Level of Support | Up to KRW 9 million per year for each additional youth hired for 3 years
∙ Companies with less than 30 employees are supported from the first hired youth; companies with the number of employees between 30 and 99 are supported from the second hired youth; and companies with more than 100 employees are supported from the third hired youth. |
| Support Limit | Support up to 30 people per company
∙ However, the number of employees supported for the newly-established companies in the current year 2019 is up to 3 people for companies with 1~4 employees (insured persons) and 6 people for companies with 5~9 employees at the end of the month of their establishment. (Inquiries: Call Center, Ministry of Employment and Labor (Call on 1350 without the area code)) |
2) Grants for Converting to Continuing Employment
| Content | A project that support employers who have converted part-time and non-regular workers in the fixed-term contract to regular (permanent and full-time) employment to improve the treatment of non-regular workers and employment stability |
|---|---|
| Eligibility | Up to KRW 10.8 million per year for employers per employee converted to regular employment
∙ Compensatory Grants for Increased Labor Costs (Wages/Salaries): Support for 80% of increased labor costs for up to KRW 600,000 per month for regular workers for one year ∙ Indirect Labor Costs: Support fixed amount of KRW 300,000 per month during the support period(Inquiries: Employment Insurance ☏ 1350) |
3) Gyeonggi-do Youth Interview Allowance
| Content | Cash payment for up to KRW 210,000 per person for unemployed youths living in the province and doing job interviews (KRW 35,000 per interview, up to 5 times) |
|---|---|
| Eligibility | Unemployed youths who were born between 1985 and 2002 and are living in the province (Eligible for short-term or fixed-term workers who work for less than 36 hours a week) |
| Scheduled Commencement Date for Application | In May 2020 (Inquiries: Youth Support Team, Gyeonggi Provincial Government ☏ 031-8008-3438) |
4) Youth Welfare Points
| Content | Support ‘Youth Welfare Points’ for travel, cultural life, self-development, shopping, etc. |
|---|---|
| Eligibility | ∙ Residents of Gyeonggi-do who are aged between 18 and 34 with a monthly salary of less than KRW 2.5 million and work for SMEs, Middle Market Enterprises, MEs or non-profit corporations* (work for 36 hours or more per week) in Gyeonggi-do |
| Details | Support for welfare activities for young employees (KRW 1.2 million per year) (Inquiries: JOBABA (Youth Employment Foundation) ☏ 1577-0014) |