Seobu Power Supports Employment Insurance Premiums for 900 Small Business Owners in Chungnam... 500 Million KRW Contribution

Employment Insurance "Blind Spot" Support for Self-Employed with Fewer Than 10 Employees
"The Only Local Government Employment Insurance Support"

[Asia Economy Reporter Kim Bo-kyung] Korea Western Power is strengthening the social safety net in the region by being the first public institution to support self-employed individuals who fall into the blind spots of employment insurance.

On the 20th, Kim Byung-sook, President of Western Power, signed a business agreement with Chungnam Governor Yang Seung-jo at the Chungnam Provincial Office, in which both organizations will contribute a total of 500 million KRW over three years to partially support employment insurance premiums for self-employed individuals with one person and those employing 2 to 9 workers within the province.

This consensus was formed as the prolonged COVID-19 pandemic has led to an increase in closures of small businesses and unemployment in Chungnam Province, highlighting the need to strengthen the employment safety net.

Until now, the government and local governments have supported employment insurance premiums for workers and self-employed individuals with one person, but employers operating small businesses with 2 to 9 employees have been relatively excluded from support.

Accordingly, Western Power partnered with Chungnam Province to enable small self-employed business owners operating 2 to 9 person workplaces to receive support for employment insurance premiums. The support target has been expanded from existing one-person self-employed individuals to self-employed individuals in businesses with fewer than 10 employees. Chungnam Province is the only region nationwide to implement this.

According to this agreement, it is expected that 900 small business owners in the province will receive employment insurance premium support. Going forward, small business owners in Chungnam will be able to focus on economic activities free from the burden of employment insurance premiums despite the prolonged difficulties caused by the COVID-19 pandemic.

President Kim Byung-sook said, "We have promoted the expansion of employment insurance premium support targets in collaboration with Chungnam Province for the first time nationwide," adding, "As a public institution relocated to the provinces, we will continue to work harder in cooperation with local governments such as Chungnam Province to revitalize the regional economy."

Meanwhile, Western Power has been promoting support projects for employment stability and mutual growth targeting energy-related upstream and downstream companies and local enterprises in Chungnam Province in cooperation with the province from 2018 to 2022 to revitalize the regional economy.

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