SME CEOs, "Apply for the Workplace Environment Improvement Fund"

Small and Medium Enterprises and Mid-sized Companies Receive 3 Million KRW per New Youth Hire, Up to 50 Million KRW Support
First-come, First-served Applications Until August 2, Support Funds Paid After On-site Inspection
Newly Hired Youth Receive G

[Asia Economy Yeongnam Reporting Headquarters Reporter Kang Sharon] Gyeongsangnam-do is providing a ‘work environment improvement fund’ of 3 million KRW per new youth hire, up to a maximum of 50 million KRW, to small and medium-sized enterprises (SMEs) in the province.

The province is accepting applications for the ‘Youth Recruitment SME Work Environment Improvement Project’ on a first-come, first-served basis until August 2, investing a total of 900 million KRW to support 300 people, with about 100 companies expected to benefit.

This project began in October 2018 as a gubernatorial pledge to promote youth recruitment and encourage long-term employment at small and medium-sized enterprises and mid-sized companies in the province.

As of December last year, 447 companies participated, receiving 4.3 billion KRW in work environment improvement funds.

Eligible applicants are SMEs and mid-sized companies with business sites in the Gyeongnam region, having three or more regular employees, that newly hire youth residents of Gyeongnam (aged 18 to 34) as full-time employees as of the application date, and that have not received youth recruitment incentive funds.

Companies receiving the work environment improvement fund must use it to purchase items such as air conditioners and air purifiers or for repair work on in-house welfare facilities like break rooms.

Companies wishing to apply should fill out the application form in the announcement on the provincial website and submit it via email.

Confirmed applicants must submit a business plan and, according to the plan, purchase environmental improvement items for facilities such as cafeterias, pantries, break rooms, or dormitories, or carry out remodeling work, then submit the application within one month to receive the fund after an on-site inspection.

Additionally, during the on-site inspection, newly hired youth will receive an incentive in the form of a gift certificate worth 150,000 KRW, which is 5% of the support fund.

Kim Ilsu, Director of the Job Economy Division at Gyeongnam Province, said, “We hope this will help create a youth-friendly work environment in SMEs, encourage long-term employment of youth, and alleviate manpower shortages for companies.”

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