Gyeonggi-do to Support 18-34-Year-Old SME Youth with 7.2 Million Won Over 2 Years

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province will publicly recruit 5,000 participants for the 'Gyeonggi-do Youth Meister Account' from the 1st to the 16th of next month.

The Gyeonggi-do Youth Meister Account is a program that supports young workers earning a monthly salary of 2.6 million KRW or less, working at small and medium manufacturing companies in the province, with a maximum earned income subsidy of 7.2 million KRW over two years. Eligible applicants are young residents aged 18 to 34 living in the province, who must be employed as workers working 36 hours or more per week.

Starting this year, the province will pay the earned income subsidy in local currency to revitalize the regional economy. Additionally, for convenience, the payment method has changed from 300,000 KRW monthly to 900,000 KRW quarterly.

Applications can be submitted online (http://youth.jobaba.net).

The province will comprehensively evaluate monthly salary, length of service, and duration of residence in Gyeonggi-do to finalize and announce the selected candidates in early May.

Kim Kyung-hwan, Director of the Youth Welfare Policy Division of the province, explained, "The Youth Meister Account project aims to increase the retention rate in manufacturing, which suffers from labor shortages, by directly supporting young workers employed in relatively disadvantaged small and medium manufacturing companies. Also, by paying the earned income subsidy in local currency, we plan to support local small business owners who have been struggling due to COVID-19."

Meanwhile, last year, 7,358 people applied for the 5,000 spots in the 'Youth Meister Account.'

This content was produced with the assistance of AI translation services.