Yeonggwang-gun Launches Nation's First 'Youth Job Incentive Support Project'

[Yeonggwang=Asia Economy Honam Reporting Headquarters Reporter Lee Seong-jeong] Yeonggwang-gun, Jeollanam-do (Governor Kim Jun-seong) announced on the 16th that it will implement the nation’s first ‘Yeonggwang-type Youth Job Incentive Support Project.’

This project was promoted in response to the prolonged economic downturn and employment crisis caused by COVID-19.

The project aims to create conditions for young people residing in the county to settle in Yeonggwang without leaving their hometown by alleviating the wage gap between large corporations and small and medium-sized enterprises (SMEs) through financial support when they are employed by local companies, thereby boosting work motivation and encouraging long-term employment.

The eligibility criteria for support are SMEs located in the county with three or more regular employees that hire youth aged 18 to 45, who have had an address in the county for at least one year as of the hiring date, as regular employees.

In the first year of this year, the support fund will be accumulated and paid to the youth at 400,000 KRW per month for one year to encourage long-term employment, and 100,000 KRW will be paid monthly to the companies.

In the second year next year, 500,000 KRW per month will be paid to the youth and 100,000 KRW to the companies, and in the third year in 2023, 600,000 KRW per month will be paid to the youth and 100,000 KRW to the companies, supporting 18 million KRW for youth and 3.6 million KRW for companies over three years.

The county recently completed the final consultation on the establishment of the social security system with the Ministry of Health and Welfare in about four months and plans to announce the recruitment of participating companies within this month.

Governor Kim Jun-seong said, “We expect this project to strengthen the competitiveness of local SMEs and inject new vitality into the regional economy,” and added, “We hope local SMEs actively participate in creating youth jobs.”

For more details, please refer to the county website or contact the Job Creation Team of the Population and Job Policy Office at the county office.

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