Ministry of Employment to Provide 1 Million Won per Person to Low-Income Long-Term Unemployed... Eligibility Details Revealed

'3,500 Support Recipients for Low-Income Long-Term Unemployed Living Stabilization Fund'
Unemployed for over 6 months... Income below 60% of median
Household heads aged 40-60... Must be actively job seeking
Excludes recipients of unemployment benefits and emergency employment stabilization funds

As the economy worsens and more self-employed business owners are closing their doors, rental notice signs are posted throughout the streets of Myeongdong, Seoul. Photo by Moon Honam munonam@

[Asia Economy Reporter Kim Bo-kyung] The government will provide 1 million KRW per person in living stabilization funds to long-term unemployed individuals facing financial difficulties due to the novel coronavirus infection (COVID-19).

The Ministry of Employment and Labor and the Korea Workers' Compensation and Welfare Service announced on the 6th that they will implement the "Low-Income Long-Term Unemployed Living Stabilization Fund Support Project" to support middle-aged job seekers who have been unemployed for more than six months due to the prolonged COVID-19 situation, aiming to stabilize their living conditions and promote reemployment.

This project follows the unemployment countermeasure plan announced last May. Separate from the emergency disaster relief fund donations, voluntary donations from the public and salary returns from high-ranking officials have been pooled into the Workers' Welfare Promotion Fund to be used as funds to overcome the COVID-19 employment crisis.

The low-income long-term unemployed living stabilization fund is provided to individuals who meet the following criteria: ▲ unemployed for more than six months, ▲ household income at or below 60% of the median income standard, ▲ registered as job seekers on Worknet for more than 60 days, ▲ household head aged 40 to 60 with two or more household members, and ▲ submitted a job-seeking (business reopening) plan.

Support is restricted for those receiving similar livelihood support funds from central government agencies.

For example, recipients of emergency disaster relief funds, local government disaster relief funds, or participants in local government small business livelihood stabilization projects can receive the low-income long-term unemployed living stabilization fund.

However, basic livelihood security recipients (livelihood benefits), emergency welfare support recipients, unemployment benefit recipients, job-seeking activity allowance recipients, or emergency employment stabilization fund beneficiaries are not eligible.

The Korea Workers' Compensation and Welfare Service will provide 1 million KRW per person to a total of 3,500 applicants based on priority. To promote reemployment, employment services such as vocational training and job placement will be offered in collaboration with Employment Welfare Plus Centers.

Applicant screening will be conducted in cooperation with related ministries such as the Ministry of Health and Welfare and the National Tax Service, scoring based on household income and job registration period to ensure that support is provided to those who truly need it in line with the donation purpose.

Applications will be accepted online through the Workers' Welfare Service (http://welfare.kcomwel.or.kr) from the 16th to the 29th.

Kang Soon-hee, Director of the Korea Workers' Compensation and Welfare Service, expressed gratitude to all sectors who donated designated funds amid the COVID-19 crisis and stated that the donations will be effectively and properly used for the low-income long-term unemployed living stabilization fund support project.

For more details about the low-income long-term unemployed living stabilization fund support project, inquiries can be made through the Korea Workers' Compensation and Welfare Service Welfare Project Call Center (1644-0083).

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