SBC Supports Expansion of Employment Insurance Premiums for Solo Self-Employed Workers

[Asia Economy Reporter Junhyung Lee] The Small Enterprise and Market Service (SEMAS) announced on the 26th that it will support a portion of the employment insurance premiums paid for up to five years for one-person self-employed individuals. The support targets one-person small business owners who are enrolled in the self-employed employment insurance.

One-person small business owners enrolled in the self-employed employment insurance can receive support covering 20-50% of the employment insurance premiums paid through SEMAS's "One-Person Self-Employed Employment Insurance Premium Support Project." An additional 30% local government subsidy is provided to one-person small business owners operating businesses in Seoul, Busan, and Gyeonggi Province. SEMAS explained that up to 80% of the paid premiums can be supported.

Starting this year, SEMAS is expanding the support period from the existing three years to a maximum of five years for one-person small business owners across all standard wage grades (grades 1 to 7) to promote employment insurance enrollment. The standard wage is the income used as the basis for premium assessment and unemployment benefit payments.

When a small business owner applies for employment insurance premium support, SEMAS verifies eligibility by checking factors such as the presence of employees and the standard wage grade. Afterwards, support funds are provided after confirming the premium payment records.

Meanwhile, SEMAS has been supporting employment insurance premiums for one-person self-employed individuals since 2018 to promote employment insurance enrollment among micro one-person small business owners and to address blind spots in the social safety net.

Jobonghwan, the director of SEMAS, stated, "One-person small business owners hold a dual position as both employer and employee," adding, "By enrolling in the self-employed employment insurance, they can enjoy the benefits of unemployment benefits, which have traditionally been perceived as for employees, and also reduce the burden of employment insurance premiums."

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