Yeongdeungpo-gu Continues Providing 'Employment Retention Subsidies' to Companies with Paid Leave Due to Business Difficulties

Workplaces in Yeongdeungpo with fewer than 50 employees, approved for support by the Ministry of Employment and Labor... Up to 6 months, maximum 10 million KRW support... Apply via Job Plus Center visit, email, fax, or mail... Applications accepted monthly from the 1st to 10th

[Asia Economy Reporter Park Jong-il] Yeongdeungpo-gu (Mayor Chae Hyun-il) will continue the ‘Paid Leave Employment Retention Support Fund’ project this year to assist small business owners and companies facing management difficulties due to the prolonged COVID-19 pandemic and strengthened social distancing measures.

In the second half of last year, the district operated the ‘Employment Retention Support System’ to stabilize employment for local companies and workers affected by COVID-19, providing a total of 270 million KRW in support funds to about 120 companies. This year, it plans to continue the paid leave employment retention support measures to help companies still struggling maintain at least a minimal business foundation.

The ‘Employment Retention Support System’ independently promoted by Yeongdeungpo-gu is an employment stabilization system that provides paid leave employment retention support funds to local companies facing unavoidable employment adjustments due to business deterioration caused by COVID-19, ultimately aiming to prevent worker layoffs and reductions.

The support targets companies located in Yeongdeungpo-gu with fewer than 50 registered employees who have implemented paid leave measures for workers due to business difficulties and have been designated as eligible for employment retention support by the Ministry of Employment and Labor.

When applying, submission of the Ministry of Employment and Labor’s notification of employment retention support fund payment decision is mandatory.

The application period is from the 1st to the 10th of each month, and support is available for cases approved by the Ministry of Employment and Labor as of the application date.

The support funds cover the employer’s share (10~33%) of paid leave wages, excluding the Ministry of Employment and Labor’s support rate, which is additionally provided from the district’s own budget. Up to 10 million KRW can be supported per company for a maximum of six months.

Business owners wishing to apply can visit the Yeongdeungpo-gu Job Plus Center during the application period from the 1st to the 10th of each month or apply by mail, email (job1119@ydp.go.kr), or fax.

For more details, refer to the Yeongdeungpo-gu website or contact the dedicated reception desk at the Job Economy Division. Note that the application may close early depending on budget exhaustion.

Chae Hyun-il, Mayor of Yeongdeungpo-gu, stated, “We will continue to operate the paid leave support fund system this year as well, for companies and workers going through a more difficult time than ever due to the prolonged COVID-19 pandemic. We hope that the paid leave employment retention support fund system will provide practical help to businesses experiencing an employment downturn and serve as a catalyst for stabilizing the local economy and revitalizing the community economy.”

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