Geumcheon-gu to Support Part of Employer Contributions (120,000 KRW per Month) for Workers for One Year

‘Geumcheon Sarang Naeil Chaeum Gongje’ Project Promotion...Supporting Employment Retention in Local SMEs, Providing Asset-Building Opportunities for Workers

[Asia Economy Reporter Park Jong-il] Geumcheon-gu (Mayor Yu Seong-hoon) is launching the ‘2021 Geumcheon Love Tomorrow Savings Deduction’ project from the 1st to support employment retention of local small and medium-sized enterprises (SMEs) struggling due to COVID-19 and to help workers build assets.

The ‘Tomorrow Savings Deduction’ is a program where SMEs and their employed workers jointly save a fixed amount monthly for five years, and upon completion of the term while still employed, the total savings are paid out as a lump sum to the worker.

The district supports part of the company’s contribution with its budget through a business agreement with the Seoul Regional Headquarters of the Small and Medium Business Corporation. This provides workers with opportunities for long-term employment and lump-sum savings, and SMEs with opportunities to improve productivity by securing excellent personnel.

The support targets workers employed at local SMEs and social economy enterprises newly enrolled in the ‘Geumcheon Love Tomorrow Savings Deduction’.

The district will accept applications on a first-come, first-served basis for up to 50 people, with a maximum of two per company, and support 120,000 KRW per month per worker for one year from the application date. Priority is given to workers residing in Geumcheon-gu.

Local SMEs wishing to apply can download the application form from the ‘Notices and Announcements’ board on the district’s website, fill it out, and submit it by mail to the Seoul Regional Headquarters of the Small and Medium Business Corporation (181, Gasan Digital 1-ro, Geumcheon-gu, Gasan W Center, Room 413).

Yu Seong-hoon, Mayor of Geumcheon-gu, said, “Through this project, we expect to prevent the outflow of excellent personnel from SMEs and create a stable employment environment, establishing a foundation for mutual growth between companies and workers. We will continue to actively discover various support projects to overcome the economic downturn and create a business-friendly environment.”

For more details, inquiries can be made to the Seoul Regional Headquarters of the Small and Medium Business Corporation or the Geumcheon-gu Regional Economy Division.

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