Support for Employment and Industrial Accident Insurance Premiums for Solo Small Business Owners in Gwangju

Support for Industrial Accident Insurance up to 30% and Employment Insurance up to 80%

[Sejong=Asia Economy Reporter Moon Chaeseok] The Korea Workers' Compensation and Welfare Service announced on the 15th that it signed a business agreement with Gwangju Metropolitan City to promote the enrollment of 'solo self-employed' workers in employment and industrial accident insurance. The goal is to strengthen the social safety net for small business owners.

Through the agreement, Gwangju City will support 30% of the insurance premiums for solo self-employed business owners in Gwangju who do not employ workers and are enrolled in employment and industrial accident insurance until the end of this year. They are considering whether to implement additional support for up to three years starting next year.

Separately, solo self-employed individuals enrolled in employment insurance are receiving support from the Small Enterprise and Market Service for 20-50% of their employment insurance premiums for five years, so it is expected that they can benefit from up to 80% of the employment insurance premiums.

So far, the Service has signed business agreements with 11 local governments, starting with Gangwon Province in April 2018, to support employment and industrial accident insurance premiums for solo self-employed individuals and small business owners.

Director Kang Soonhee said, "During the COVID-19 period, we will actively promote with Gwangju City so that small business owners can enjoy the benefits of the social safety net by utilizing the employment insurance for self-employed and industrial accident insurance for small business owners, and we will strengthen cooperation with other local governments to expand the project."

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